Weekly Trading Update

Limited economic data due to Christmas holidays



Christmas holidays mean both the UK and EU are not set for any significant economic data releases this week, while the US only has a handful.

US

The Tuesday, after Boxing Day, is the beginning of any significant data releases in the US, as the Housing Price Index comes out. This is an important indicator, as the housing market is considered an important factor within the whole economy. Last month’s figure was lower than expected at 0.9%, however this had followed the downward trend since the end of July.

Sticking with the housing market, Wednesday brings the Pending Home Sales, which is expected to grow 0.6%. That being said, this figure has been quite volatile in recent months, either way it will be a good indication of the coming house sales, as the sale can be completed weeks after the contract is signed.

Thursday brings both Initial Jobless Claims and the Chicago Purchasing Managers’ Index. Many are hoping the jobless claims will continue to fall as the US economy continues its recovery from the pandemic. The PMI will be an important indication of the general business health in the US and is expected to gain on the previous figure of 61.8, to 62.

Rest of the World

China has the only other significant news across the globe during this week, as on Friday it will release its Manufacturing and Non-Manufacturing PMI, highlighting the expansion or reduction in the backbone of the Chinese economy.

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