The last week before the holidays saw the dollar mostly lower, with the exception of the Japanese yen. What’s next? The last week of 2017 is a holiday week that features low trading volume and liquidity. This usually results in quiet trading, but can also see surprising sparks. There are very few events, but they could trigger an outsized response given the conditions.
- US CB Consumer Confidence: Wednesday, 15:00.
- US Pending Home Sales: Wednesday, 15:00.
- US jobless claims: Thursday, 13:30. This weekly barometer of the labor market disappointed with a jump to 245K last time. We could see it sliding back to the 230Ks now.
- Chicago PMI: Thursday, 14:45. This purchasing managers’ index is usually overshadowed by bigger events but could have its say this time. After standing at the high level of 63.9 points in November, the fresh release for December will find it hard to reach higher ground. However, it had already reached higher ground. The 50-point mark separates growth from contraction.
- German CPI: Friday, during the European morning with the final release coming at 13:00. Prices in Europe’s third-largest economy rose by 0.3% in November and its early publication will shape the numbers for all the euro-zone. Draghi’s dovishness is based on poor inflation in the euro-zone. We’ll now get an early look while liquidity is super-low just ahead of the New Years’ Party.