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UK, US and the Eurozone over the holidays

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  • Last full trading week ahead of holidays
  • US Core PCE on tap
  • Winding down into New Year

Monday 19 December

Overnight we have Australia’s Mid-Year Economic and Fiscal Outlook. Then there’s the German ifo Business Climate survey, and the Confederation of British Industry’s Industrial Order Expectations. From the US we have the NAHB Housing Market Index.

Tuesday 20 December

Overnight we have Monetary Policy Meeting Minutes from the Reserve Bank of Australia. Then from Germany we have the Producer Prices Index (PPI) and Unemployment Change. From the Eurozone we have the Current Account, followed later by Consumer Confidence with Canadian Retail Sales, and US Building Permits, and Housing Starts all released in between.

Wednesday 21 December

From the Bank of Japan there’s Core CPI (Consumer Price Index), then the German GfK Consumer Climate survey. From the UK we have Public Sector Net Borrowing, PPI Output and Input, and CBI Realised Sales. Then there’s an update on Canadian inflation in the form of the CPI. From the US we have CB Consumer Confidence, Existing Home Sales, CB Leading Index, and weekly Crude Oil Inventories.


Thursday 22 December

The morning starts with the release of the Swiss Trade Balance, KOF Economic Barometer, and the UK’s Current Account and Revised Business Investment. From the US there’s Final GDP and weekly Unemployment Claims.

Friday 23 December

We get the latest update on Canadian GDP, while from the US we have Durable Goods, Personal Income, Personal Spending, New Home Sales, Consumer Sentiment, and Inflation Expectations. But the main release prior to the holidays comes in the form of the US Core Personal Consumption Expenditures (PCE), the US Federal Reserve’s preferred inflation measure. Usually, this release has the potential to move markets violently if it comes out significantly above or below market expectations. But this time round it could be overshadowed following last week’s CPI release which came in below expectations, plus the Fed’s FOMC meeting when the key Fed Funds rate was increased to give an upper limit of 4.5%. As we have over a month to go to the next rate decision, today’s PCE update may not be as significant as usual. But it’s also worth noting that lower holiday trading volumes can lead to high volatility. So, it’s worth keeping an eye on.

Monday 26 December

Markets closed.

Tuesday 27 December

 UK and Canada closed.

We start the day with Japan’s Housing Starts. Then we have the US Goods Trade Balance, Wholesale Inventories, the S&P/Case Shiller Composite-20 House Price Index, and the Richmond Manufacturing Index. Overnight there’s the Bank of Japan’s Summary of Opinions, and Japanese Industrial Production.

 Wednesday 28 December

 Overnight we have the British Retail Consortium’s Shop Price Index. Then there’s the Spanish Flash CPI, Credit Suisse Economic Expectations, the Italian Unemployment Rate, and US Pending Home Sales.

 Thursday 29 December

First off, there’s the UK’s Nationwide House Price Index. Then we have French Consumer Spending, German Unemployment, Italian CPI, And Eurozone M3 Money Supply and Private Loans. From the US we have weekly Unemployment Claims, and Crude Oil Inventories.

Friday 30 December

A quiet day on which to round off 2022. Overnight there’s Australian Private Sector Credit, Chinese Manufacturing and Non-Manufacturing PMIs, and the US Chicago PMI.

David Morrison is an Analyst with Trade Nation. Trade Nation was set up with the specific remit to help customers realise their trading goals by changing the way they engage with the financial markets. As well as providing full transparency and making sure all customers get a fair deal, Trade Nation is fully regulated. This means customers can be confident they’re getting the trading experience they deserve. 

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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