The most important events that will follow next week

GDP data for Canada and the US, US durable goods, applications for unemployment benefits are the final accents before Christmas break. Here's a look at these important events.

US Final GDP: Tuesday, 15:30. The US economy has progressed more than previously expected in the second quarter. The data shows that the largest economy in the world is expanding at an annual rate of 3.9% between April and June, and economists expect GDP to remain unchanged at 3.7%. This is a welcome change from weak growth of 0.6% recorded in the first quarter of 2015. Economists expect GDP to grow by 1.9 percent in the third quarter.

Canada GDP: Wednesday, 15:30. The Canadian economy showed quarterly winning streak in September to 0.5% of GDP. The drop in oil prices by 5.5%, raising concerns about growth in the last quarter of 2015. Economists do not expect such strong growth in the fourth quarter.

US orders for durable goods: Wednesday, 15:30. Orders for durable goods, registered a solid gain of 3.0 percent in October after two months of decline. Business investment is a major contributor with growth of 1.3%. Orders are expected to decrease by 0.6%. while major orders are forecast to rise 0.1%

Applications for unemployment benefits in the US: Thursday, 15:30. The number of Americans applying for unemployment benefits dropped last week from a five-month high of 282,000 to 271,000, suggesting continued improvement in the labor market in the US. The number of jobless claims is expected to reach 270,000 this week.

E.Dimitrov JrTrader