The fourth week of December presented a quieter news environment as the Christmas holiday period began. Reduced market activity and lower liquidity were expected during this time, as a significant portion of market participants typically scale back their trading volumes.
Great Britain:
● UK GDP data for the third quarter was released at 7:00 p.m. GMT. On an annualized basis, the economy grew by 0.9%, below the forecast of 1.0% and the previous 0.7%. The economy showed no growth (0.0%) quarter-on-quarter, falling short of the expected 0.1% increase (previous value: 0.4%).
Canada:
● The Canadian GDP report, released at 1:30 p.m. GMT, indicated a modest acceleration in economic growth in October. The 0.3% month-over-month growth rate exceeded both the market expectations of 0.1% and the 0.2% growth observed in September.
United States:
● At 1:30 p.m. GMT, the US Durable Goods Orders Report was published. Core Orders declined by 0.1%, missing the expected 0.3% increase (previous: +0.2%). Overall Durable Goods Orders dropped by 1.1%, compared to the forecasted -0.3% and the previous +0.8%.
● New home sales data for November, released at 3:00 p.m. GMT, indicated a modest increase. Sales reached 664 thousand units, surpassing the 627 thousand units sold in October.
● In the meantime, the Conference Board Consumer Confidence Index was released, demonstrating a decline from 112.8 to 104.7 in December.
The onset of the Christmas holidays on Tuesday brought about a shift in market activity. While markets in Germany and Switzerland remained closed, trading hours were reduced in the UK, New Zealand, Australia, and the US.
Australia:
● The minutes of the Reserve Bank of Australia's monetary policy meeting were released at 12:30 a.m. GMT.
The Christmas holiday on Wednesday led to a notable slowdown in market activity. With trading halted in Australia, New Zealand, the US, Canada, and Europe, the majority of exchanges were closed for the day.
The Boxing Day holiday on Thursday significantly impacted market activity in Australia, New Zealand, the UK, and Canada, with local stock exchanges remaining closed.
United States:
● At 1:30 p.m. GMT, the weekly initial jobless claims report was released, showing 219,000 claims, a slight decrease from the previous week's 220,000.
United States:
● The November merchandise trade balance report is scheduled for release at 1:30 p.m. GMT. It is anticipated to show a deficit of -101.20 billion, compared to -98.26 billion in the prior month.
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