Understandably, there will only be a handful of not-so-important economic indicators this week as trading winds down ahead of Christmas holidays and the festive hangover will not clear until the second week of January.
Ahead of year-end, we are expecting to see some profit-taking in US stocks after their sharp gains over the past month. Gold and silver look like they are about to stage a rally, should the bulls maintain the latest breakout attempt. Bitcoin has also created a potential low.
In FX, sterling continues to get pounded after PM Boris Johnson’s decision not to extend the Brexit transition period. This has investors wondering whether the UK could still crash out of the EU without a deal at the end of 2020, given that there will only be 11 months to negotiate a deal. The move accelerated today because of technical selling after the key $1.30 handle gave way. This level will be pivotal going forward – while below it, the path of least resistance would remain to the downside.
Anyway, here are the data highlights for the next couple of weeks:
Monday 23rd Dec
Tuesday 24th-Thursday 26th Dec
Friday 27th
Week beginning Monday 30th Dec
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