Weekly Outlook of Financial Markets for December 31- January 4

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Weekly Outlook of Financial Markets for December 31- January 4

During the previous week, major commodities remained mostly unchanged as the markets slowed down due to the Holiday. Even the uncertainty around the fiscal cliff didn’t seem to affect the foreign exchange and commodities markets. Last week several U.S reports were published: U.S new home sales increased last month; U.S consumer confidence slipped in December; the U.S jobless claims decreased by 12k to reach 350k. These news items didn’t seem to affect commodities prices during the week. Next week is likely to also be characterized with low volatility in the markets, unless of course there will be a surprise from the debate between the White House and Congress in tackling the fiscal cliff. Several reports and events may affect the financial markets during the forthcoming week. These include: U.S core durable goods, ECB President will give a speech, Canada’s GDP, Japan’s trade balance, U.S non-farm payroll report, EU monetary development, U.S and China’s manufacturing PMI reports, Canada’s employment update, German retail sales, and U.S. jobless claims. Here is an economic news calendar projection for December 31st to January 4th regarding the U.S, EU, Canada, China and Great Britain.

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