For the week ahead, expect a lighter week with few major events affecting key markets. With Christmas Eve falling on Thursday, many markets are closed or closing early. Nearly every major market will be closed on Christmas, although we will see some Japanese data that day.
On Monday, we have no significant events; instead, we have several minor events for New Zealand, Canada, Japan and Eurozone. None of these are likely to have a great effect on their respective currencies or commodities.
On Tuesday, we have a string of semi-important data prints. Most are not of high significance but can stir up some predictions about future economic conditions and central bank decisions in 2016. Events that particularly stand out are GDP for the US and UK, the UK GfK consumer confidence survey, Swiss trade balance (which is an important factor in the Swiss National Bank’s interest rate decisions), and New Zealand trade balance data.
On Wednesday, major events include US durable goods orders, personal consumption expenditure core, and Canadian GDP. Some less important data prints include US new home sales for November, US crude oil inventories, and UK 3Q GDP year over year.
Thursday and Friday bring up a slew of key insights into the Japanese economy. As a side note, we do note that US initial jobless data will be released for the previous week, although it is less important at this time given the Fed’s recent rate hike.
Shifting Back to Japan, the main economic event will be national CPI for November year-over-year as well as CPI ex food and energy. We will also see readings into Japan’s unemployment, consumer spending, and housing. All of this data becomes more significant as we have a Bank of Japan meeting in January of 2016, with many expecting more easing.
Guest post by Donald Levit of www.economiccalendar.com
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