As markets will be closed on Monday for the Christmas holiday and there aren’t many data announcements scheduled, the last week of the year will be rather calm in the US. Investors are still holding out hope that the fabled Santa Claus rally, which typically occurs during the final five trading days of the year and the first two of the following year, will occur. Following pending home sales, the S&P/Case-Shiller and FHFA house prices, the goods trade balance, wholesale inventories, the Dallas Fed and the Richmond Fed manufacturing and services index, and the Chicago PMI will be noteworthy to watch on the data front.
The UK will see the release of December’s house prices, while the European Central Bank will publish its monetary indicators. The preliminary reading of consumer price inflation rates for Spain and Russia, the unemployment figures for France, the KOF Leading indicators and business morale for Switzerland, and the manufacturing confidence for Turkey are all noteworthy publications.
The third quarter current account deficit in India is anticipated to reach a record high due to inflated imports of goods brought on by rising energy prices and a depreciating rupee. Retail sales, industrial production, the unemployment rate, and housing starts are a few of the economic indicators that will be released in Japan. Away from Thailand, South Korea will reveal December’s inflation figures as well as figures on consumer and business optimism.
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