mask Week Ahead | Markets on Holiday Mode

24/ 12/ 2017

Week Ahead | Markets on Holiday Mode

Forex Weekly Outlook - 25th December 2017 - 29th December 2017

Monday

All Global markets will be closed due to Christmas Holiday.

Tuesday

  • JPY BOJ Monetary Policy Meeting Minutes
  • USD S&P/Case-Shiller Home Prices Indices

A quite day awaits us after the Christmas holiday, as most markets will be closed due to Boxing Day Holiday. Bank of Japan will release some low tier data along with their Monetary Policy Meeting Minutes which may swing in favor of Yen. In the evening we will see S&P/Case-Shiller Home Prices Indices from USA which serves as a survey which examines changes in the value of the residential real estate market in 20 regions across the US. This report serves as an indicator for the health of the US housing market.

Wednesday

  • USD Pending Home Sales

Another quiet day in the markets after Christmas holidays. Only report worth mentioning is US Pending Home Sales which is a leading indicator of trends of the housing market in the US. It captures residential housing contract activity of existing single-family homes. Pending Homes sales figures jumped by 3.5% in October after three months of disappointments. We may see a slide in November, which could lead to weakness in the greenback.

Thursday

  • USD Initial Jobless Claims & Continuing Jobless Claims

A quiet morning as no data can be seen from any region. In the evening US will release Initial Jobless Claims which is a measure of the number of people filing first-time claims for state unemployment insurance. In other words, it provides a measure of strength in the labor market. Labor market disappointed with a jump to 245K last time. We could see it sliding back to the 230Ks this time.

The day will end with US Continuing Jobless Claims which is a measure of the number of individuals who are unemployed and are currently receiving unemployment benefits. It presents the strength in the labor market.

Friday

  • EUR Consumer Price Index & Harmonized Index of Consumer Prices

Germany will release their CPI figures for December, which rose by 0.3% in November and its early publication will shape the numbers for all the euro-zone. ECB President Draghi’s, dovishness is based on poor inflation in the euro-zone. We’ll now get an early look while liquidity is super-low just ahead of the New Years’ Party.