Next Week

December 26, 2008

The week to January 2nd will be light from a data release perspective and dominated by New Year’s Day, the only holiday observed by all major markets. Nothing of interest arrives from Japan, where markets will be closed on both January 1st and 2nd.

Several economies release factory sector PMI results for December next Friday. For Euroland, such will be revisions of preliminary findings reported on December 16th. Euroland as a whole had a “flash” reading of 34.5, down from 35.6. The German and French readings were 33.5 and 35.9, down from 35.7 and 37.3. The U.S. reading in November was 35.6, and Britain’s was at 34.4.

Other European arrivals will be the Swiss leading activity index, Italian business sentiment and producer prices, German December consumer prices, British Nationwide house prices, final estimates of French 3Q GDP, and Euroland money and credit growth.

The monthly Case-Shiller index of house prices, consumer confidence, and weekly jobless claims head a scant list of other U.S. releases.

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