The Last Week of 2022.
London, Saturday, 24 December 2022
The final week of 2022 will be dominated by stocks because there won't be many significant economic reports. Investors are hopeful that the stock market will experience the Santa Claus surge, which will give the markets a break. The focus will be on housing data and numerous regional PMI readings in the US. Retail sales, industrial production, and the unemployment rate will also be released for Japan, while South Korea, Spain, and Russia will concentrate on inflation rates.
As markets will be closed on Monday for the Christmas holiday and there aren't many data announcements scheduled, the last week of the year will be rather calm in the US. Investors are still holding out hope that the fabled Santa Claus rally, which typically occurs during the final five trading days of the year and the first two of the following year, will occur. Following pending home sales, the S&P/Case-Shiller and FHFA house prices, the goods trade balance, wholesale inventories, the Dallas Fed and the Richmond Fed manufacturing and services index, and the Chicago PMI will be noteworthy to watch on the data front.
The UK will see the release of December's house prices, while the European Central Bank will publish its monetary indicators. The preliminary reading of consumer price inflation rates for Spain and Russia, the unemployment figures for France, the KOF Leading indicators and business morale for Switzerland, and the manufacturing confidence for Turkey are all noteworthy publications.
Investors in Asia are eagerly awaiting the remarks of Bank of Japan Governor Kuroda and the central bank's "Summary of Opinions" for information on the future of the institution after it unexpectedly raised its yield curve control level. Retail sales, industrial production, the unemployment rate, and housing starts are among the Japanese economy's upcoming economic reports. The third quarter current account deficit in India is anticipated to reach a record high due to inflated imports of goods brought on by rising energy prices and a depreciating rupee. Away from Thailand, South Korea will reveal December's inflation figures as well as figures on consumer and business optimism.
(Research and report by: The Decision Maker - Finance editors)