On Monday 26th: Boxing Day, Japanese Annualised Retail Sales are due.
On Tuesday 27th: Industrial Production for Japan is published.
On Wednesday 28th: US Pending Home Sales released.
On Thursday 29th: US Unemployment data published.
On Friday 30th: Chicago PMI is due.
Weekly outlook
A difficult year is coming to an end, which means the festive season is well and truly upon us and there are just a few trade days left in 2022. Much of the business world is already on vacation next week, bond markets will shut early shortly before Christmas, and traders will be off on December 26. With just a few major reports due, look out for the Chicago PMI and Pending Home Sales for more clues on the direction of the US economy and how it may look coming into 2023.
Monday 26th of December
11:30 PM GMT- Annualised Retail Sales November- Japan: Since March, when the Japanese government relaxed face-to-face service restrictions, the private consumption index has consistently grown. Expectations are for another increase in last year's retail sales of 5%, up from 4.40% the previous month.
Tuesday 27th of December
11:50 PM GMT- Monthly Industrial Production for November- Japan: Last month, Japanese industrial output was revised significantly lower owing to increased input prices and deteriorating international demand. October industrial output declined 3.2% from September and is expected to be around 1.5% down again for November.
Wednesday 28th of December
3:00 PM GMT- Monthly Pending Home Sales November- US: The amount of properties (excluding new builds) that have contracts but have not yet closed is tracked by the National Association of Realtors (NAR) Pending Home Sales. This along with most housing data out of the US in recent months has also been looking worse for ware. An increase this month from -4.6% to -0.5% is expected.
Thursday 29th of December
1:30 PM GMT- Weekly Unemployment Claims- US: This is the number of people that applied for unemployment benefits for the very first time during the previous week. Expectations are for a slight increase from the previous week’s 216K.
Friday 30th of December
2:45 PM GMT- Chicago PMI for December- US: Chicago PMI, or the Chicago Business Barometer, fell to 37.2 in November from 45.2 in October, the lowest levels since the beginning of the pandemic in 2020. A value over fifty indicates industrial expansion, while a reading below fifty indicates contraction. A slight improvement to 40.0 is expected this month.
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