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- What to expect next week – 18.12 – 22.12.2017
What to expect next week - 18.12 - 22.12.2017
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Loading...In the week before Christmas, the economic news that will drive the markets is basically the official data on GDP in the Q3 of 2017 of the big economies. The first significant GDP report will be published on Wednesday by New Zealand, with GDP expected to decline by -2.5%, but the data will be good for the New Zealand economy and we expect NZD to note this positive. On Thursday, we are expecting the most important weekend release, and that's US GDP. Expectations are that the US economy's growth in Q3 by 2017 will remain at 3.3%, but taking into account all the positive data the US released this quarter and the hurricanes Harvey and Irma, which helped increase sales of durable goods and in general have increased consumption, we expect GDP to be higher than projected data. From there, we expect the USD to show a rise and, in general, to stabilize after the recent turmoil. With regard to the stock market, economic recessions are unlikely to have a strong impact since many investors will withdraw from the market or close some of their positions. We expect lower volatility next week and a slight downward adjustment is entirely possible given the thin market and pre-Christmas profits.
Over the past, EU leaders formally agreed on Friday to begin the second phase of the Brexit talks, mainly in the area of trade negotiations and the transition period. Next week, we are waiting for new news on Brexit trade talks between the EU and the UK, not excluding the sharp movements in GBP, mainly because of the thin market and not the importance of the news.
Economic calendar for the upcoming week - 18.12 - 22.12.2017
Monday
01:50 Japan - Corrected trade balance
01:50 Japan - Trade Balance
12:00 Eurozone - CPI Consumer Price Index
23:00 New Zealand - Westpac Consumer Confidence
Tuesday
02:30 Australia - RBA Interest Rate Policy Report
11:00 Germany - Business climate
12:00 Eurozone - Wage growth in the euro area
15:30 United States - Building permits
23:45 New Zealand - Current account
23:45 New Zealand - Trade Balance
Wednesday
09:00 Germany - PPI Production Price Index
15:30 Canada - Wholesale Sales
17:00 US - Sales of Existing Homes
17:30 US - Oil Stocks
23:45 New Zealand - Official GDP for Q3
Thursday
No Schedule: Japan - BoJ decision on the basic interest rate
08:30 Japan - Press conference of Bank of Japan
15:30 US - Official GDP for Q3
15:30 Canada - Non Farm Payrolls
15:30 Canada - CPI Consumer Price Index
15:30 Canada - Retail Sales
Friday
Partial holiday in the UK before Christmas holidays - Markets will close at 12:30 GMT
10:00 Switzerland - Leading indicator of KOF
11:30 UK - Official GDP for Q3
15:30 USA - Sale of durable goods
15:30 Canada - Official GDP for Q3
17:00 USA - Selling New Homes
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