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Markets are waiting for a third presidential vote in Greece and US consumer confidence

Monday:
Greece – Presidential elections
09:00 Switzerland – UBS Consumption Indicator

Tuesday:
11:00 Eurozone – M3 Money Supply
11:00 Italy – Business Confidence
17:00 USA – Consumer Confidence

Wednesday:
15:30 USA – Initial Jobless Claims
17:00 USA – Pending Home Sales
17:30 USA – EIA Crude Oil Stocks change

 

In the last week of the year will focus on:

On Monday in European session in parliament in Greece will be held the third vote for president. To be elected president there must be a majority of 180 votes out of 300 deputies voting. If the president is did not elected during this stage it will be scheduled early elections.

09:00 In Switzerland we will expect values to the UBS consumption indicator with previous value 1.29. An hour later, Italy will be published data on consumer confidence with the previous value 100.20.

During US session will be announced at 15:30 – Dallas Fed Manufacturing Business Index/December, as the value in November was 10.5

Tuesday European session started with UK’s Nationwide Housing Prices with previous value of 8.5% yoy and 0.3% mom. We are expected to maintain growth on a monthly basis by 0.3% and 7.6% estimate for the year.

At 10:00 we’ll look at Spain: Current account, tha market will not expect significant variation from 0.44M; Retail sales – expactation for growth until November 1%.

M3 money supply in the Eurozone from the begining of the year to November was 2.5%, the new value will be published at 11 am., and Eu’s Private loans with last value -1.1%. At the same time the attention of traders will be focused on Italy, as business confidence in the country is likely to slow down to 96.0 against 96.3 the previous month. Italian index of producer prices will be brought surprises and will keep its previous values – a decrease of -1.2% for the year.

During the US session Index housing prices S & P / Case-Shiller not brought significant market movements / last value 4.9%., As investors look forward to consumer confidence in the US expected to rise to 93.1, compared to 88.7 the previous value.

Wednesday Asian session will offer data from Australia for loans in the private sector with an estimated value of 0.5% agains 0.6% and loans for housing without expectations for change in value of 0.6% from the previous month. Markets in Japan remained closed.

In Europe, markets in Germany, Italy, Norway, Switzerland will remain closed and exchanges in the UK, France and Spain will close early. This will be reflected by a decline in market liquidity, which can lead to weak movements or sudden moments impulses generated by the thin market and low trading volume.

Recent data for the year are from the US. At 15:30 Initial Jobless Claims – expected growth of 288K compared to 280K from the previous week. Pending Home Sales will be published at 17h.

At 17:30 particular interest will generate oil inventories in the United States – last value 7.267M

On Friday, the markets will remain closed in Japan, New Zealand, China and Switzerland.


 Varchev Traders


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