2014's Final Economic Indicators

Final Economic IndicatorsIn the week between Christmas and New Year is a time for traders relax a little and look back the year given the year-end brings lower liquidity, few economic data announcements and almost everyone in holiday mood.

Global markets have been steady in the recent weeks with better than usual seasonal performance and above average volatility. The data coming out of the US remains strong and positive while global economy remains weak which in itself supports stronger US dollar. The global economy though is still in risk. However globally political risk factors have not created panic in the market. Even in the case of Greece, where the parliament failed to elect the president which is an indicator for the country’s political instability, there has not been almost any fear at all in Europe, indicating much more confident Eurozone compared to couple of years ago when Greece got their first bailout.

Tomorrow, Wednesday, December 31 is one of the biggest holidays globally; majority of the population will be celebrating the arrival of 2015.

The following countries will have bank holidays:

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  • Japanclosed
  • Norway
  • Italy
  • Switzerland
  • Indonesia
  • South Korea
  • Germany
  • Brazil

And the following countries will have early close:sorry-we-are-closing-early-sign

  • UK
  • Spain
  • France

In Australia though, the Reserve Bank of Australia will be releasing November Private Sector Credit Data. It is worth mentioning that the RBA has been showing concerns about lendings for the real estate purchases. A few months ago the RBA governor Glenn Stevens has warned about the creation of asset bubbles in the current low interest rate environment. Hence this data might light a candle for the RBA’s concerns.

As the Asian part of the world will be saying good-bye to 2014 and welcoming 2015, a number of important US economic announcements will be made. Among these indicators Weekly Unemployment claims for the 4th week of December, Pending Home sales for November and Energy Information Administration’s CL, futures, commodity, commodities, oil, light crude, crude oil price, crude oil forecast, crude oil outlook, Crude Oil analysis, Crude Oil technical analysis, Crude Oil outlook, Crude Oil price, Light Crude Oil analysis, Light Crude Oil forecast, Light Crude Oil outlook, Light Crude Oil price, Light Crude Oil technical analysis, Light Crude Oil analysis, Light Crude Oil forecast, OPEC, Saudi Arabia, ARAMCO, OPEC, cartel, kuwait,Crude Oil Inventories are the most important ones to watch for.

Given that Oil has been on its steepest bearish trend, which is partially due to the US Shale production and for some due to the Russian sanctions (an economic war on Russia for Ukraine by the West and for Syria by the Arab world). May there be once again excess of crude supplies, we may see the oil prices being pushed further down for the first day of 2015.

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