Limitation of indicators in the economic calendar on the eve of the New Year holidays

United States

The possibility of continued light trading could continue as much of Wall Street heads into the New Year’s holiday this week. Despite the light trading volume, next week is full of important and influential economic data. No wage data will be released, and no Fed news is on the calendar.

U.S. markets will be closed on Monday for the Christmas holiday. On Tuesday, several economic data will be released that are likely to point to a weakening U.S. economy. While wholesale inventories are expected to increase at a slower pace in November, the FHFA Home Price Index and S&P Corelogic Case-Shiller data released for October show that the housing market continues to tighten. The Dallas Federal Reserve’s report on manufacturing activity may point to a limitation in business activity. The Richmond Federal Reserve’s manufacturing index is expected to continue its downtrend in December, while home sales declined in November, according to data released Wednesday. On Thursday, preliminary data on weekly unemployment insurance claims and the Chicago MNI PMI report will be released, which should reflect the recovery in economic conditions.

European Union

No data will be released for Germany. In Spain, the retail sales index and the CPI report will be published.

England

Markets are closed and the economic calendar with limited data for the UK continues through the end of the week. A nationwide home price survey will be released on Friday and is expected to show a relative and increasing slowdown in the housing market.