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New week on the horizon: what’s on?

Chris Lee

Now that the Christmas week is drawing to a close, attention is beginning to be drawn towards what’s on in the forex markets next week.

Monday morning looks set to see a wide range of European data releases.

German retail sales figures for November will be out at 7am GMT and these are set to show a year on year change from 0.8% to 0.9%.

On a month on month basis, these figures are expected to show a change from -1.9% to +1.%.

In Spain, a preliminary consumer price index for December will be out at 8am GMT.

Month on month, this was last recorded at 0.2%.

At the same time, Spanish gross domestic product data for Q3 of 2019 will be out.

This is expected to show no quarter on quarter change from its previous position of 0.4%.

In Britain, mortgage approvals figures for November will be out at 9:30am GMT.

In the US, preliminary wholesale inventories data for November will be out at 1:30pm GMT and is likely to shed some light on the state of the country’s manufacturing industry

This metric was last recorded at 0.1%.

The Chicago purchasing managers’ index for December will be out of the US at 2:45pm GMT.

This is due to show a slight shift from 46.3 to 47.9.

Looking ahead to Tuesday of next week, the main event earlier in the day is likely to be a non-manufacturing purchasing managers’ index out of China, covering December.

This is expected to show a change from 54.4 to 53.6.

The US Redbook index for the dates around 27th December will be out at 1:55pm GMT.

A housing price index for October is also expected, with a month on month change from 0.6% to 0.3% on the cards.

Consumer confidence figures will be out of the US at 3pm GMT, and that is expected to be the last major release of 2019 affecting the foreign exchange markets.

Some markets will begin to close down during the day on Tuesday to mark the New Year’s Day holiday.

Japan will be one such market, and China will follow suit.

On Wednesday, many other key markets around the world will be closed due to the New Year’s Day holiday, including the US, UK and the European nations.

A couple of small releases are expected over the course of the day.

One will be a vehicle sales data release from Japan, covering December.

This was last recorded at -14.6% year on year.

There is currently no specified time for this release to happen.

In Australia, a Commonwealth Bank manufacturing purchasing manager’s index for December is due at 10pm GMT.

This is set to show no change from its previous position of 49.4.

In New Zealand, markets will close on 2nd January as well for a holiday marking the day after New Year’s Day.

China, however, will be active early, with a manufacturing PMI for December due at 1:45am GMT.

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Chris Lee
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