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USD - Major events in the week ahead

Sunday, Jan 01 2017
USD - Major events in the week ahead

Events that marked the week:

Tuesday was marked by CB Consumer Confidence figures. Consumer optimism about the economy increased to the highest level since August 2001, according to a monthly survey released Tuesday. The Consumer Confidence Index hit 113.7 in December, The Conference Board said on Tuesday. Economists polled by Reuters expected the Consumer Confidence Index to hit 109 for the month.The survey, a closely followed barometer of consumer attitudes, measures confidence toward business conditions, short-term outlook, personal finances and jobs.

On Wednesday Pending Home Sales figures will be published. The Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 2.5 percent to 107.3 in November from 110.0 in October. After last month's decrease in activity, the index is now 0.4 percent below last November (107.7) and is at its lowest reading since January (105.4).

 

Thursday was marked Unemployment Claims figures. In the week ending December 24, the advance figure for seasonally adjusted initial claims was 265,000, a decrease of 10,000 from the previous week's unrevised level of 275,000. The 4-week moving average was 263,000, a decrease of 750 from the previous week's unrevised average of 263,750. There were no special factors impacting this week's initial claims. This marks 95 consecutive weeks of initial claims below 300,000, the longest streak since 1970.

 

Friday brought Chicago PMI figures. The MNI Chicago Business Barometer fell 3.0 points to 54.6 in December from 57.6 in November, led by declines in both New Orders and Order Backlogs. After a disappointing start to the fourth quarter, the latest results suggest economic conditions have improved somewhat, with the Barometer averaging 54.3 in Q4, the highest in two years. The December decline was led by a slowdown in New Orders, which fell 6.7 points to 56.5, giving up most of the November gain that had left it running at the fastest pace since June.

 

This week markets will be looking at:

 

ISM Manufacturing PMI (Tuesday 16:00)

FOMC Meeting Minutes (Wednesday 20:00)

ADP Non-Farm Employment Change (Thursday 14:15)

Unemployment Claims (Thursday 14:30)

ISM Non-Manufacturing PMI (Thursday 16:00)

Non-Farm Employment Change/Unemployment Rate (Friday 14:30)

Trade Balance (Friday 14:30)

More in this category: « Chicago PMI fell more than expected Sterling lower in a quiet Monday trade »

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