Week Ahead

It will be another holiday-shortened week with many exchanges closed either on Monday or Friday and investors continued to pay attention to the COVID-19 numbers and vaccination progress. In the US, key economic publications include wholesale inventories and goods trade balance, Case-Shiller home prices, pending home sales, Chicago PMI, and Dallas Fed Manufacturing Index. Elsewhere, China NBS PMIs and Japan industrial production will also be in the spotlight.
Joana Taborda | joana.taborda@tradingeconomics.com 12/26/2020 9:58:47 AM
Market activity is set to remain subdued next week, with stock markets in the UK, Australia, New Zealand and Canada closing on December 28th in observance of Boxing Day. Elsewhere, markets in Germany, Italy and Japan are scheduled to close on the last day of the year; while in the UK, France and Spain trading ends early on New Year's Eve.

In the US, notable publications are the advance estimates of both wholesale inventories and goods trade balance, alongside Case-Shiller home prices, pending home sales, Chicago PMI, and Dallas Fed Manufacturing Index. In addition, the weekly jobless claims report is expected to point to another sharp increase in the number of workers filing for unemployment benefits. Claims have hit a three-month high in mid-December, amid record increases in COVID-19 cases and new lockdowns across the country.

Elsewhere in America, Brazil, Chile and Colombia will be publishing updated data on the labor market situation.

In Europe, important releases are the UK Nationwide house prices; France registered unemployment; Switzerland KOF leading indicators and investor morale; Spain retail sales and flash inflation rate; Sweden foreign trade; and Turkey economic confidence index and trade balance.

In China, traders will turn their attention to December's PMI updates from the NBS, as well as industrial profits; while in Japan, the preliminary release of November's industrial production will be keenly watched. Elsewhere, South Korea will be publishing business and consumer morale, inflation data, industrial output, retail sales, and foreign trade; while India will be releasing current account and external debt for the July to September period, as well as infrastructure output and fiscal deficit for November.





 


Saturday December 26 2020 Actual Previous
08:30 PM
CA
BoC Gov Macklem Speech
Sunday December 27 2020 Actual Previous
11:50 PM
JP
BoJ Summary of Opinions
11:50 PM
JP
Industrial Production MoM Prel NOV 0% 4%
Monday December 28 2020 Actual Previous
11:00 AM
FR
Unemployment Benefit Claims NOV 36.6K -56.6K
11:00 AM
IL
Unemployment Rate NOV 4.8% 4.7%
11:30 AM
BR
BCB Focus Market Readout
12:00 PM
ZA
Balance of Trade NOV ZAR36.72B ZAR34.94B ®
03:30 PM
US
Dallas Fed Manufacturing Index DEC 9.7 12
09:00 PM
KR
Consumer Confidence DEC 89.8 97.9
Tuesday December 29 2020 Actual Previous
12:00 PM
BR
Unemployment Rate OCT 14.3% 14.6%
02:00 PM
US
S&P/Case-Shiller Home Price MoM OCT 1.3% 1.3% ®
02:00 PM
US
S&P/Case-Shiller Home Price YoY OCT 7.9% 6.6%
09:00 PM
KR
Business Confidence DEC 82 85
09:30 PM
US
API Crude Oil Stock Change 25/DEC -4.785M 2.7M
Wednesday December 30 2020 Actual Previous
07:00 AM
GB
Nationwide Housing Prices YoY DEC 7.3% 6.5%
07:00 AM
GB
Nationwide Housing Prices MoM DEC 0.8% 0.9%
08:00 AM
CH
KOF Leading Indicators DEC 104.3 103.7 ®
12:20 PM
IN
Current Account Q3 $15.5B $19.8B
01:30 PM
US
Goods Trade Balance Adv NOV $-84.82B $-80.42B
01:30 PM
US
Wholesale Inventories MoM Adv NOV -0.1% 1.2% ®
02:45 PM
US
Chicago PMI DEC 59.5 58.2
03:00 PM
CO
Unemployment Rate NOV 13.3% 14.7%
03:00 PM
US
Pending Home Sales MoM NOV -2.6% -0.9% ®
03:00 PM
US
Pending Home Sales YoY NOV 16.4% 20.4% ®
03:30 PM
US
EIA Crude Oil Stocks Change 25/DEC -6.065M -0.562M
03:30 PM
US
EIA Cushing Crude Oil Stocks Change 25/DEC 0.027M -0.026M
03:30 PM
US
EIA Distillate Stocks Change 25/DEC 3.095M -2.325M
03:30 PM
US
EIA Gasoline Stocks Change 25/DEC -1.192M -1.125M
11:00 PM
KR
Inflation Rate YoY DEC 0.5% 0.6%
Thursday December 31 2020 Actual Previous
01:00 AM
CN
NBS Manufacturing PMI DEC 51.9 52.1
01:00 AM
CN
Non Manufacturing PMI DEC 55.7 56.4
07:00 AM
TR
Balance of Trade NOV $-5.03B $-2.37B
11:00 AM
TR
MPC Meeting Summary
12:00 PM
CL
Unemployment Rate NOV 10.8% 11.6%
01:30 PM
US
Jobless Claims 4-Week Average 26/DEC 836.75K 819K ®
01:30 PM
US
Initial Jobless Claims 26/DEC 787K 806K ®
03:00 PM
RU
Inflation Rate YoY Flash DEC 4.9% 4.4%
Friday January 01 2021 Actual Previous
12:00 AM
KR
Exports YoY DEC 12.6% 4% ®
12:00 AM
KR
Balance of Trade DEC $6.94B $5.93B
Sunday January 03 2021 Actual Previous
10:00 PM
AU
Markit Manufacturing PMI Final DEC 55.7 55.8
Monday January 04 2021 Actual Previous
12:00 AM
SG
GDP Growth Rate YoY Adv Q4 -3.8% -5.6% ®
12:00 AM
SG
GDP Growth Rate QoQ Adv Q4 2.1% 9.5% ®
12:30 AM
JP
Jibun Bank Manufacturing PMI Final DEC 50 49
12:30 AM
KR
Markit Manufacturing PMI DEC 52.9 52.9
01:45 AM
CN
Caixin Manufacturing PMI DEC 53.0 54.9
04:00 AM
ID
Inflation Rate YoY DEC 1.68% 1.59%
05:00 AM
IN
Markit Manufacturing PMI DEC 56.4 56.3
07:00 AM
TR
Inflation Rate YoY DEC 14.6% 14.03%
08:15 AM
ES
Markit Manufacturing PMI DEC 51.0 49.8
08:30 AM
AT
Unemployment Rate DEC 11% 9.5%
08:30 AM
CH
procure.ch Manufacturing PMI DEC 58.0 55.2
08:45 AM
IT
IHS Markit Manufacturing PMI DEC 52.8 51.5
08:50 AM
FR
Markit Manufacturing PMI Final DEC 51.1 49.6
08:55 AM
DE
Markit Manufacturing PMI Final DEC 58.3 57.8
09:00 AM
EA
Markit Manufacturing PMI Final DEC 55.2 53.8
09:30 AM
GB
BoE Consumer Credit NOV £-1.539B £-0.698B ®
09:30 AM
GB
Mortgage Lending NOV £5.7B £4.5B ®
09:30 AM
GB
Markit/CIPS Manufacturing PMI Final DEC 57.5 55.6
09:30 AM
GB
Mortgage Approvals NOV 105K 98.3K ®
11:30 AM
BR
BCB Focus Market Readout
12:20 PM
IN
Balance of Trade Prel DEC $-15.71B $-9.87B
02:00 PM
IL
Interest Rate Decision 0.1% 0.1%
02:30 PM
CA
Markit Manufacturing PMI DEC 57.9 55.8