Next Week’s Menu: December 21-28, 2024
December 20, 2024
Central Banks: Interest rate policy reviews are scheduled in Turkey and Egypt, and minutes from previous central bank policy meetings in Australia, Japan and Canada will be published.
Holidays and Special Events: The distraction of end-of-year holidays to business and financial market activity is arguably maximized when Christmas and New Years Day fall upon a Wednesday as is the case this year. This will be only the ninth time this has happened since floating dollar exchange rates debuted in 1973. Even more rare, the only other time when the holidays were on Wednesday in the year of a U.S. presidential election was 1996, and that example involved Bill Clinton preparing for his second term. That makes 2024 somewhat unique. Data releases will be much fewer than in a typical week, and market activity is likely to be influenced mainly by end-of-year transactions. The wild card will be the omnipotent flow of political news around the world. The only major market open on Christmas Day will be Japan, and many countries will stay shut for Boxing Day or St Stephen’s Day on Thursday, including Australia, New Zealand, Canada, Great Britain, Switzerland, Germany, France and Italy.
Scheduled U.S. Data Releases: Consumer confidence, durable goods orders, new home sales, the Case-Shiller and FHFA house price surveys, an advance estimate of the U.S. goods trade deficit, the Richmond Fed manufacturing survey, and the Chicago Fed National Activity index. Also weekly jobless insurance claims, chain store sales, energy inventories, and mortgage applications.
Japanese and Chinese Releases: Japanese industrial production, retail sales, unemployment, Tokyo consumer prices, corporate service prices, housing starts, construction orders and index of leading economic indicators. Chinese corporate profits.
Selected Other Asian Releases: Singaporean and Malaysian producer prices. Singaporean CPI, retail sales and industrial production. South Korean business confidence and consumer sentiment.
Members of the Euro Area: Spanish, Lithuanian, Slovenian and Latvian retail sales. Spanish and Irish producer prices. Spanish GDP. Portuguese and Lithuanian industrial production. Austrian manufacturing PMI and current account. Belgian business climate index.
U.K. and Switzerland: British GDP, current account and retail sales. Swiss ZEW expectations gauge of investor sentiment.
Nordic Europe: Danish and Norwegian retail sales. Danish GDP and Sweden’s trade balance.
Eastern Europe: Czech consumer and business confidence. Russian industrial production and business confidence. Hungary’s current account.
Canada and Mexico: Canadian monthly GDP and producer prices. Mexican trade balance.
Copyright 2024, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Economic Data Calendar
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