Week commencing 18 December 2017
Reserve Bank of Australia (RBA) minutes, a Bank of Japan (BoJ) rate decision, US durable goods orders, and eurozone consumer confidence are the main events to watch out for in what is a quieter week, as markets gear up for Christmas.
On the corporate front, news is very light, with perhaps Carnival and Blackberry being the only news of note.
10am – eurozone inflation (November, final): YoY figure expected to be 1.5% from 1.4%. Market to watch: EUR crosses
12.30am – RBA meeting minutes: these will shed further light on the current views of central bank policymakers. Market to watch: AUD crosses
9am – German IFO (December): business climate index forecast to hold at 117.5. Market to watch: EUR crosses
1.30pm – US housing starts & building permits (November): building permits forecast to fall 4% MoM, and housing starts expected to be 6% weaker. Markets to watch: US indices, USD crosses
3pm – US existing home sales (November): expected to rise 1.6% MoM from 2%. Markets to watch: US indices, USD crosses
3.30pm – US EIA crude inventories (w/e 15 December): stockpiles forecast to fall by 4.5 million barrels, from a 5.1 million barrel drop a week earlier. Markets to watch: Brent, WTI
1.30pm – US GDP (Q3, final), initial jobless claims (w/e 16 December): growth forecast to be unrevised at 3.3%, while claims rise to 241,000 from 225,000. Markets to watch: US indices, USD crosses
3pm – eurozone consumer confidence (December, flash): expected to be 0.2 from 0.1. Markets to watch: eurozone indices, EUR crosses
7am – Germany GfK consumer confidence (January): expected to rise to 10.8 from 10.7. Markets to watch: eurozone indices, EUR crosses
9.30am – UK GDP (Q3, final): QoQ rate expected to be unrevised at 0.4%. Market to watch: GBP crosses
1.30pm – US durable goods orders (November): forecast to rise 2% MoM from a 1.2% fall in October, while excluding transportation orders the figure is expected to rise 0.4%, in line with last month. Markets to watch: US indices, USD crosses
3pm – US new home sales (November), Michigan consumer confidence (December, final): new home sales expected to fall 5% MoM, from a 6.2% rise in October, while the Michigan index is forecast to be 97, up from the previous 96.8 estimate. Markets to watch: US indices, USD crosses
Source: Chris Beauchamp