Investors face a fully Christmas week, with few macroeconomic and business references, among which the inflation data in Spain, the underlying CPI in Japan and the evolution of housing prices in the US stand out. The Spanish stock market will remain closed until this Wednesday.
In terms of markets, it is a short week, with two holidays in most parks around the world: today, Monday, Christmas Day, and Tuesday, St. Stephen’s Day, better known as ‘Boxing Day’ in The countries of Anglo-Saxon influence.
“The macro agenda is really very scarce,” says Luis Francisco Ruiz, market analyst at CMC Markets. “In Spain, to highlight something, we are going to know the “flash” CPI for December, which is perhaps the most advanced of those that are going to be published in Europe.”
Outside of Spain, Ruiz mentions housing prices in the US and weekly unemployment benefit applications in that country. “It’s usually a fairly quiet week, also from the point of view of business results,” he explains.
Ruiz foresees a “low” trading volume, although he warns that the end of the year entails “portfolio adjustments,” which can generate “quite a bit of volatility.” Regarding the weekly agenda, tomorrow, Tuesday, employment and core inflation data will be published in Japan; housing prices in the US and consumer confidence in Spain.
On Wednesday, the summary of opinions from the Bank of Japan and several manufacturing indicators in the US will be known. Unemployment claims, the goods trade balance and retail inventories in the US are expected for Thursday, in addition to retail sales in Japan and Spain. Finally, on Friday, the CPI for Spain and the evolution of housing prices in the United Kingdom will be published.