There will be an extremely light news schedule this week compared to last week, due to the Christmas and New Year holiday season affecting many global financial centers and major economies. There is almost nothing of any high importance scheduled, just a few items of U.S. economic data.
Although the last few days of December can sometimes produce very active markets with strong trends, and even though the Forex market is in a strong bullish U.S. Dollar trend, there are signs indicating that the Forex market is not going to be particularly active this week.
Monday is a public holiday in much of the world, including the U.S.A. and the U.K. while Tuesday is also public holiday in the U.K. and Canada.
The market is likely to be most active on Thursday.
U.S. Dollar
It will be quite a light week for the greenback, beginning on Tuesday with the release of CB Consumer Confidence data. On Thursday, we will get Unemployment Claims data, as well as a release of Crude Oil Inventories numbers.
Monday is a public holiday.
Secondary Impact Data
As the week is so thin, we will also look at data releases of secondary importance. On Tuesday, there will be releases of Japanese Household Spending and Core CPI data. Wednesday will see the release of U.S. Pending Home Sales numbers. On Thursday, the European Central Bank will release data on the M3 Money Supply. Finally, on Friday we will get Chicago PMI and Spanish Flash CPI data.