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Week commencing 18 December

Chris Beauchamp, market analyst

Reserve Bank of Australia (RBA) minutes, a Bank of Japan (BoJ) rate decision, US durable goods orders, and eurozone consumer confidence are the main events to watch out for in what is a quieter week, as markets gear up for Christmas.

On the corporate front, news is very light, with perhaps Carnival and Blackberry being the only news of note. 

Economic reports

Week commencing 18 December

Monday

10am – eurozone inflation (November, final): YoY figure expected to be 1.5% from 1.4%. Market to watch: EUR crosses

Tuesday

12.30am – RBA meeting minutes: these will shed further light on the current views of central bank policymakers. Market to watch: AUD crosses

9am – German IFO (December): business climate index forecast to hold at 117.5. Market to watch: EUR crosses

1.30pm – US housing starts & building permits (November): building permits forecast to fall 4% MoM, and housing starts expected to be 6% weaker. Markets to watch: US indices, USD crosses

Wednesday

3pm – US existing home sales (November): expected to rise 1.6% MoM from 2%. Markets to watch: US indices, USD crosses

3.30pm – US EIA crude inventories (w/e 15 December): stockpiles forecast to fall by 4.5 million barrels, from a 5.1 million barrel drop a week earlier. Markets to watch: Brent, WTI

Thursday

1.30pm – US GDP (Q3, final), initial jobless claims (w/e 16 December): growth forecast to be unrevised at 3.3%, while claims rise to 241,000 from 225,000. Markets to watch: US indices, USD crosses

3pm – eurozone consumer confidence (December, flash): expected to be 0.2 from 0.1. Markets to watch: eurozone indices, EUR crosses

Friday

7am – Germany GfK consumer confidence (January): expected to rise to 10.8 from 10.7. Markets to watch: eurozone indices, EUR crosses

9.30am – UK GDP (Q3, final): QoQ rate expected to be unrevised at 0.4%. Market to watch: GBP crosses

1.30pm – US durable goods orders (November): forecast to rise 2% MoM from a 1.2% fall in October, while excluding transportation orders the figure is expected to rise 0.4%, in line with last month. Markets to watch: US indices, USD crosses

3pm – US new home sales (November), Michigan consumer confidence (December, final): new home sales expected to fall 5% MoM, from a 6.2% rise in October, while the Michigan index is forecast to be 97, up from the previous 96.8 estimate. Markets to watch: US indices, USD crosses

Weekly view

Monday

10am – eurozone inflation (November, final): YoY figure expected to be 1.5% from 1.4%. Market to watch: EUR crosses

Tuesday

12.30am – RBA meeting minutes: these will shed further light on the current views of central bank policymakers. Market to watch: AUD crosses

9am – German IFO (December): business climate index forecast to hold at 117.5. Market to watch: EUR crosses

1.30pm – US housing starts & building permits (November): building permits forecast to fall 4% MoM, and housing starts expected to be 6% weaker. Markets to watch: US indices, USD crosses

Wednesday

3pm – US existing home sales (November): expected to rise 1.6% MoM from 2%. Markets to watch: US indices, USD crosses

3.30pm – US EIA crude inventories (w/e 15 December): stockpiles forecast to fall by 4.5 million barrels, from a 5.1 million barrel drop a week earlier. Markets to watch: Brent, WTI

Thursday

1.30pm – US GDP (Q3, final), initial jobless claims (w/e 16 December): growth forecast to be unrevised at 3.3%, while claims rise to 241,000 from 225,000. Markets to watch: US indices, USD crosses

3pm – eurozone consumer confidence (December, flash): expected to be 0.2 from 0.1. Markets to watch: eurozone indices, EUR crosses

Friday

7am – Germany GfK consumer confidence (January): expected to rise to 10.8 from 10.7. Markets to watch: eurozone indices, EUR crosses

9.30am – UK GDP (Q3, final): QoQ rate expected to be unrevised at 0.4%. Market to watch: GBP crosses

1.30pm – US durable goods orders (November): forecast to rise 2% MoM from a 1.2% fall in October, while excluding transportation orders the figure is expected to rise 0.4%, in line with last month. Markets to watch: US indices, USD crosses

3pm – US new home sales (November), Michigan consumer confidence (December, final): new home sales expected to fall 5% MoM, from a 6.2% rise in October, while the Michigan index is forecast to be 97, up from the previous 96.8 estimate. Markets to watch: US indices, USD crosses

Company announcements

 

 

Monday 18 Tuesday 19 Wednesday 20 Thursday 21 Friday 22
Full-year earnings

 

 

 

 

 
Half/Quarterly earnings

Goodwin

Carnival,

Micron Tech,

FedEx

General Mills,

Bed Bath & Beyond,

Blackberry

Nike,

Accenture

 
Trading update

Hunting

 

 

 

 

Upcoming dividends

FTSE ex-dividend dates (21 December):

FTSE 100: BT Group, British American Tobacco

FTSE 250: Halma, RPC, Grainger, Dixons Carphone

Index dividend adjustments

  Monday 18 December Tuesday 19 December Wednesday 20 December Thursday 21 December Friday 22 December Monday 25 December
FTSE 100

 

 

0.5

 

 

 
Australia 200

 

         
Wall Street

 

        0.8
US 500 0.4 0.36 0.00 0.06   0.12
Nasdaq 0.16          
France 40 6.8          
Netherlands 25            
EU Stocks 50 2.3          
China H-Shares            
Singapore Blue Chip            
Hong Kong HS50            
South Africa 40            
Italy 40            
Japan 225            

 

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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