It is not time to be a hero

Next week starts the final two weeks of the year. They don't represent the best of times to trade. Friday is Christmas. A week from that day is New Years day. Yes markets will be open with early closings for US stock/bond market on Christmas Eve. On New Years eve, the closing will be normal for the stock market. The bond market is recommended to close at 2 PM.

There will be economic releases next week and the week after but even so it is likely not of the variety that will shape central bank policy. The prices will move, We just don't know the impact from liquidity risk. So if you can relax like we will be doing at FXL and enjoy family, friends first. If you must trade in the markets, understand what you will be dealing with because of the dynamics of the market.

Anyway, here are the events:

Monday, December 21:

  • Spanish Parliamentary election. For a review, click on Ryan's post HERE

Tuesday, December 22:

  • UK public sector net borrowing. Estimate 11.9 billion
  • Final GDP US 3rd quarter . Estimate 1.9%
  • US existing home sales, estimate 5.34 million

Wednesday, December 23:

  • UK current account. Estimate -1.3 billion
  • UK GDP quarter on quarter. Estimate 0.5%
  • Canada retail sales. Estimate +0.5%. Core retail sales, estimate +0.5%
  • Canada GDP for October. Estimate +0.2%. GDP. Year on year, estimate +0.0%
  • US durable goods for November, estimate -0.6%. Ex transportation +0.0%.
  • US personal income, estimate 0.2% Personal spending. Estimate 0.3%
  • US New home sales for November, estimate 505K
  • US revised University of Michigan consumer sentiment , estimate 92.1
  • Crude oil inventories

Thursday, December 24:

  • Japan monetary policy meeting minutes
  • US unemployment claims. Estimate 270 K
  • US equity markets close at 1 PM. US bond market closes at 2 PM

Friday, December 25:

  • Japan household spending, estimate -2.1%