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  1. #101

    Goods Sector Leads Canadian Output Lower in October Edit

    Canadian GDP contracted by 0.3% in October, ending a four-month string of gains.
    The decline in output was led by the goods-producing side of the economy, which saw output fall 1.3% on the month. Leading the decline was manufacturing, where output fell 2.0% on widespread declines among the sub-categories. Statistics Canada noted that the decline reflected a lower volume of exports (October trade volumes: -0.7%). Mining, quarrying, and oil and gas extraction output fell 1.2% after a string of robust gains in prior months.
    Services activity held up once again, delivering a 0.1% gain on the back of retail trade (+0.7%) and wholesale trade (+0.6%). Real estate and leasing (+0.4%) also performed well, while finance and insurance (-0.5%) declined for a third consecutive month.
    Key Implications
    Some pull-back in the Canadian economy was likely for October in light of strong gains in prior months and the weak October trade data. Indeed, today's report was disappointing by almost any measure, with the scale of the retrenchment in activity larger than analysts expected. That said, the October GDP figures should be taken in the broader context. Despite the scale of the pull-back, it was not sufficient to undo September's healthy growth, which was revised up to +0.4%. Indeed, while today's report does provide a soft start to the fourth quarter, the strong September figures help offset this somewhat - we continue to expect above-trend GDP, indicative of an economy that continues to move in the right direction, albeit slowly.
    From the Bank of Canada's perspective, today's report is likely in line with expectations. Per the October Monetary Policy Report, a more moderate pace of growth was expected going forward after last quarter's healthy rebound. While the risks to monetary policy remain skewed towards further easing, the October GDP numbers are consistent with the Bank of Canada maintaining its policy interest rate at 0.50% for the foreseeable future

  2. #102

    Yen Quiet in Holiday Trade Edit

    USD/JPY is subdued on Friday, as the Japanese markets are closed in observance of the Emperor's Birthday. In the US, the week wraps up with UoM Consumer Sentiment, with the markets expecting a strong improvement to 98.2 points. We'll also get a look at New Home Sales, which is expected to dip to 575 thousand. There are only a few US releases during the week of Christmas, but it will be business as usual in Japan, highlighted by Household Spending and Tokyo Core CPI.
    After an uneventful week, there was plenty of data for the markets to digest on Thursday. US Final GDP for the third quarter posted an excellent gain of 3.5%, above the forecast of 3.3%. Durable goods reports were a mixed bag. Core Durable Goods Orders gained 0.5%, above the forecast of 0.2%. Durable Goods Orders posted a sharp decline of 4.6%, but this was better than the forecast of -4.9%. On the employment front, unemployment claims jumped to 275 thousand, much weaker than the forecast of 255 thousand. Still, the for-week average of jobless claims remains at very low levels.
    It's full steam ahead for the US economy, which continues to grow at a brisk clip. Final GDP, the last of three GDP reports, was revised upwards to 3.5%, beating the estimate of 3.3%. The previous GDP forecast was 3.2%. The stellar reading can be attributed to stronger consumer spending and an increase in business investment, and marked the strongest growth rate since the third quarter of 2015.
    Now that the Federal Reserve has taken the leap and raised rates by a quarter point, what can we expect from the Fed in the coming months? In September, when speculation of a rate hike began to heat up, Fed officials said they expected two rate hikes in 2017. However, with the US economy showing solid growth and the labor market close to capacity, the Fed is now projecting three or even four hikes next year. However, projections can change based on conditions, and the markets will understandably be somewhat skeptical about Fed rate forecasts. As well, the incoming Trump administration could play a critical role in the Fed's monetary stance. Trump's economic platform remains sketchy, but there is growing talk about 'Trumpflation', with the markets predicting that Trump's plans to cut taxes and increase fiscal spending will lead to higher inflation. If inflation levels do heat up in early 2017, there will be pressure on the Fed to step in and raise interest rates.

  3. #103

    Morning brief for December 27

    Financial markets are still sleeping with Christmas carols. Trading should be thin this week as the market participants are closing out 2016 volatile year.

    EUR/USD slid down to 1.0430 in the early hours of the Asian session as 10-year US Treasury yields extended their gains having partially recovered their yesterday’s losses. Italy is struggling with its banking crisis. ECB told Monte dei Paischi that it needs 8.8 bln euros to plug its capital shortfall. Earlier Italy’s government received the Parliament’s support for the bank’s bailout when private investors had refused to take its losses.

    USD/JPY popped up earlier this morning as we got a miss in Japan’s core consumer prices and household spending. The data indicated that Japan’s economy lacks of a significant boost to strike the BoJ’s egregious 2% inflation rate target. Core consumer prices fell at their fastest pace in nearly 4 years showing that fighting deflation is not as easy-peasy as Shinzō Abe thought it would be in 2012. The further movement of the pair should be subdued as the end of 2016 is just several days away. The upper border of Ichimoku cloud on the H4 timeframe is holding the yen’s pace. The pair may rise later today if the US releases will be above market’s expectations.

    GBP/USD made a baby step lower and then glued to the 1.2270 level. The US CB consumer confidence might send the prices a bit lower towards the nearest support at 1.2490.

    Aussie and Kiwi retraced on the strengthening of the US dollar. USD/CAD dropped to 1.3470 overnight on the surging oil prices. Brent oil futures jumped to $55.86 on Tuesday as we approach to the actual OPEC and non-OPEC producers’ output cuts.

  4. #104

    Weekly Report - Energy, Forex, Indices, Commodities

    Crude Oil- Crude oil prices fell on Friday, with WTI down 12 cents, or 0.23%, to $52.83 a barrel on the New York Mercantile Exchange in light-winter-holiday trading and Brent, the global benchmark, down 0.07%, to $55.01 on London's ICE Futures Exchange. Both benchmarks closed the week pretty much flat, after falling the previous one, but still up for the month. Prices, however, have stabilized right above the upper end of the range that contained them for most of the second half of this 2016, indicating that the bullish potential remains intact.
    Late Tuesday, the American Petroleum Institute reported that US crude inventories showed a drawdown of 4.1 million barrels in the week ended Dec. 16, while gasoline stocks fell by 2 million barrels and distillates dropped by 1.5 million barrels. But the EIA weekly report released one day after, showed an unexpected build in stockpiles that dented optimism over production cuts. Crude stockpiles rose 2.26 million barrels during the week ending December 16, against a draw of 2.515 million barrels expected. The total stockpile now stands at 485.4 million barrels.
    The same report showed that refinery crude runs rose by 184,000 barrels per day, whilst distillate stockpiles, which include diesel and heating oil, fell by 2.4 million barrels, versus expectations for a 1.2 million-barrel drop. Heating oil demand Heating oil demand, however, is expected to pick up as the weather turns colder. On a positive note, stocks at the Cushing, Oklahoma, delivery hub fell by 245,000 barrels, the second drop in stocks at the key U.S. oil storage hub in the last eight weeks.
    Finally, gasoline stocks fell by 1.3 million barrels, compared with analyst expectations for a 1.4 million-barrel gain, despite gasoline production rose for the week, averaging over 10.2 million barrels per day.
    In another news, the US rig count surged by 13 to 523, rising for eighth straight week, according to oilfield-services company Baker Hughes, just 13 rigs short of this year maximum number of active rigs.
    Natural gas - Natural gas futures for January delivery closed the week sharply higher around $3.60 per million BTUs, following shrinking stockpiles, as reported by the EIA on Thursday, and colder weather finally arriving in the US. Natural Gas traded as high as $3.706 per million BTUs this week, not far from the multi-month high achieved this December at $3.772 per million BTUs.
    The US Energy Information Administration reported that US natural gas stocks decreased by 209 billion cubic feet for the week ending December 16. Analysts were expecting a storage decline of between 197 and 210 billion cubic feet. The five-year average for the week is a withdrawal of around 101 billion cubic feet, and last year's storage decline for the week totaled 32 billion cubic feet.
    Adding to the bullish case for the commodity, market data provider PointLogic reported that US natural gas production fell 1.3% to 78.3 Bcf (billion cubic feet) per day from December 15th to December 21st, 2016.
    Forex- The FX board saw some choppy trading this past week, but the American dollar retained the title of being the strongest currency across the G-10 bloc. The country released some first-tier macroeconomic data that anyway produced limited reactions amid thin holiday volumes. Overall encouraging, figures failed to surprise. US Q3 GDP was revised higher, from 3.2% to 3.5%, beating expectations of an upward revision to 3.3%. Durable Goods Orders also beat expectations, but still came in negative, with demand for all durable items falling 4.6% against an expected 4.7% decline. The core reading, excluding aircraft, rose 0.9% after a 0.2% gain a month earlier, while the personal consumption expenditures (PCE) price index, the Fed's preferred gauge of inflation, was unchanged in November, after a 0.3% monthly increase in October and a 1.4% when compared to a year earlier.
    For the upcoming week, the last of the year, thin trading is expected to persists, amid year-end holidays, although some spikes here and there on profit taking can't be disregarded. Nevertheless, the American currency heads firmly bullish into 2017.
    The EUR/USD pair saw little activity, but printed a lower low for the year at 1.0352 last Tuesday, closing the week unchanged around 1.0440. The pair traded as high as 1.0499 mid week, but selling interest quickly rejected the advance. Dollar's momentum on Tuesday was triggered by the BOJ, as the Japanese Central Bank decided to maintain its monetary policy unchanged, rather than with the greenback or the common currency.
    Despite the BOJ, the USD/JPY was unable to extend its previous rally, spending the week in consolidative mode below the 118.00 level after trading as high as 118.66, a 10-month high, in the previous one. The Central Bank decided to keep overnight interest rates at minus 0.10% and cap 10-year bond yields "at around zero". It will continue to purchase government bonds at a pace of ¥80tn a year, equities at a pace of ¥6tn annually and corporate bonds at a pace of ¥3.2tn. Also, it upgraded its economic assessment, with Governor Kuroda stating that the Japanese economy will continue to grow above its potential from now on, acknowledging that the upgrade reflects better conditions abroad, that is, a lower JPY.
    The Sterling fell to a fresh December low against its American rival, settling for the week not far from such low of 1.2228, on renewed fears over a "hard Brexit." Scotland First Minister, Nicola Sturgeon, presented a proposal for keeping Scotland in the EU single market even if the rest of the UK comes out. But she suffered a setback after Jorge Toledo, the Spanish Secretary of State for the European Union, rejected the proposals for a differentiated deal for Scotland. All of the EU members states have to agree the terms of Brexit, giving each one the possibility of rejecting any UK proposal.
    Commodity-related currencies were among the worst performers this week, with the AUD/USD pair plummeting to the 0.7160 region, its lowest since last May, amid continued weakness in base metals, whilst the USD/CAD rose sharply for a second consecutive week, settling at 1.3540, not far from the 8-month high posted last November, with the Canadian currency undermined by poor inflation readings released this past week.
    Indices- US stocks closed the week with modest gains, with the Dow Jones Industrial Average establishing at 19,933.81, having traded just 26 points short of the 20,000 threshold this week. The Nasdaq Composite closed at 5,462.69, while the S&P ended at 2,263.79. The week was signaled by low volume trading amid winter holidays in the north hemisphere and the upcoming Christmas holidays. Stocks markets will be closed on Monday both in Europe and America, resuming activity on Tuesday 27, albeit even thinner ranges are expected in the last week of the year.
    Still, demand for USD-related assets remains high, with US Treasury yields ending the week also modestly higher, and the market will need a huge catalyst, not foreseen just yet, to change course.
    European equities closed marginally higher in subdued holiday trading, but held near fresh yearly highs with the German DAX closing the week at 11,449.93, up from 11,404.01 on the previous Friday. The FTSE 100 added 44 points on the week, settling at 7,068.17. Banking woes help keeping the upside limited, with the sector down 0.5% on the week.
    Japanese shares closed the week with modest gains, up 26 points at 19,427.67. After hitting a fresh 2016 at 19,647 on Tuesday, boosted by BOJ's monetary policy announcement, profit taking took its toll on the benchmark, although intraday declines attracted buyers, indicating that bulls are still on the driver's seat. The USD/JPY ending the week closer to ¥117.00 than previous ¥118.00 had little effect on the index.
    Commodities - Gold prices were down for a seventh consecutive week, but remained in the lower end of the previous week's range and above December's low of $1,122.62 a troy ounce, with spot settling around $1,132.00. The decline was moderated by restricted trading volume, but news coming from India also helped the bright metal. The world's largest gold-buying nation, is said to be considering cutting the import tax on the precious metal in order to curb its smuggling, from current 10% to 6%, according to people familiar with the matter, although no official government statement was released. Gold, however, will likely remain under pressure, as long as hopes about US growth under Trump's administration and three rate hikes coming from the FED persist.
    Silver price for March delivery plummeted to its lowest in eight months, down around 2% for the week, closing around $15.738 an ounce. Copper prices also ended the week lower, with the contract for March 2017 settlement on the COMEX division of the New York Mercantile Exchange closing down 2.7% at $2.4790 for the week, its lowest in over a month. Base metals were unable to take advantage of dollar's rally pause, but bottoms may not be far away, considering the extreme oversold conditions reached lately. Still, narrow ranges will likely prevail next week, with limited trading volumes being the main theme across the financial world.
    Raw sugar futures made little progress this week, trading modestly higher on Friday, but closing the week flat around $18.20 cents per lb.
    Cocoa futures fell Tuesday, as Cocoa for March delivery lost over 3% by mid week, but closed the week pretty much flat around $2,247 a ton, on the ICE Futures U.S. exchange. Concerns over ample supply of the agricultural commodity however, will likely keep it under pressure, amid continued favorable weather conditions in the Ivory Coast, the world's largest cocoa grower.
    Coffee for March delivery settled down at $136.50 cents per lb., as investors continue to unwind long positions on speculations supply will outpace demand, as in Colombia coffee production is expected to hit a 23-year high of 14 million bags in the 2016-2017 season.

  5. #105

    Crude prices are steady as traders wait for output cuts to roll out

    On Tuesday, crude futures traded between small revenues and losses, with the market sticking to an upbeat view ahead of a landmark effort by crude producers to minimize global supply.

    In New York, February delivery light, sweet crude futures CLG7 reached $53.05 a barrel, rising 3 cents. Meanwhile, in London, February Brent crude futures LCOG7 gained 10 cents, hitting $55.06 a barrel. Crude markets were unavailable for the Christmas holiday.

    Starting January, the vast majority of OPEC members as well as 11 other non-cartel crude producers will start scaling back their output as part of a deal they made in the end of November. The reduction objective of approximately 1.8 million barrels is going to be carried out in phases.

    Crude prices have enjoyed a steady ascend throughout December and analysts are assured that crude prices will hit the $60-a-barrel threshold during the first half of 2017.

    [Only registered and activated users can see links. ]Important Forex News Daily.

  6. #106

    RBNZ Caught Between a Rock & a Hard Place in 2016

    The Kiwi was one of the winners among the major currencies in 2016, but the monetary policy changes and economic conditions didn’t exactly fit the bill. To understand New Zealand dollar price action and the monetary policy moves by the Reserve Bank of New Zealand (RBNZ), let’s first dig in to a few economic data points.

    [Only registered and activated users can see links. ]Important Forex News Daily.

    After the Financial Crisis of 2008, we can see that the New Zealand economy has grown solidly: +2.00% annualized on average since 2010, with the latest round of gains attributed to “strong inward migration, construction activity, tourism, and accommodative monetary policy,” according to the RBNZ in their August monetary policy statement. But inflation on the other had, has been down in the dumps with CPI growing less than 0.50% y/y in recent quarter, and PPI–despite big improvements over the past year–has spent the majority of the last three years in the negative.
    Why is Inflation so Weak?!

    According to the RBNZ in their June Statement of Intent, weak inflation conditions were likely due to a mix of many factors throughout the year, including a fall in oil prices, spare capacity in the global economy, “stronger-than-expected growth in labor supply” dampening wages and consumer spending, etc. But the main driver is likely from the low global inflation, “causing negative inflation in the tradables sector” as stated by the RBNZ in their September meeting. In other words, global inflation has been falling and taking down broad inflation conditions in New Zealand with it.

    And finally, the RBNZ cited continued Kiwi strength as a hinderance to inflation growth. A rising currency can put pressure on inflation by increasing demand / reducing supply, which would likely amplify the effects of weak global inflation. The Kiwi dollar has certainly defied the RBNZ’s expectations of pulling back in 2016 to make the fight against low inflation much more difficult. Taking a look at the New Zealand Dollar Trade Weighted Index below, making gains throughout 2016:

    [Only registered and activated users can see links. ]Important Forex News Daily.

    In the chart above, we can see the New Zealand dollar make steady gains after that very early 2016 drop in broad risk sentiment (China fears and falling oil prices). RBNZ Governor Wheeler cited “Weak global conditions and low interest rates relative to New Zealand” as the reasons for the Kiwi’s strength in the August monetary policy statement. It makes sense, right? Who would want to invest in an asset with a relatively high interest rate and linked to a solidly growing economy like the New Zealand? Everyone we think! So, that’s why we agree with the Governor on why the Kiwi barely saw any speed bumps on its way higher.

    So to fulfill its mandate of price stability and try to hit its target 1%-3% inflation range for the economy, the Reserve Bank of New Zealand issued three interest rate cuts to help spark inflation: a cut to 2.25% from 2.50% at the March meeting, a cut to 2.00% at the August meeting, and finally down to 1.75% in the November meeting. These weren’t easy decisions for the RBNZ to make given that they didn’t want to overheat and already robust economy, especially what may be an already overheating housing market:

    [Only registered and activated users can see links. ]Important Forex News Daily.

    House Prices continued to accelerate higher in 2016, despite an increasing issuance in building permits in an effort to drive down prices with an increased the supply of homes. Continued rate cuts may ignite further housing price increases, but fortunately, the RBNZ revised the investor Loan-to-valuation ratio restrictions to limit home buying.

  7. #107

    The Bourses in Asia Have Opened With Mixed Signals this Morning

    Market Movers Today

    We have a very thin data calendar in this last week of 2016 with only a few tier 2 key figures scheduled, which are not expected to have significant impact on markets.
    Instead, price actions are likely to be driven by end-of-year positioning in a market with relatively thin liquidity.
    Today, US Conference Board consumer confidence is due at 16.00 CET. We look for a decline from 107.1 to 106.5, while consensus among economists surveyed by Bloomberg expects an increase to 108.5.

    Selected Market News
    The bourses in Asia have opened with mixed signals this morning. There is no significant news to trade on in a thin market and at the time of writing price actions have been modest with only little change in the regional stock indices.
    This morning we got a series of data releases out of Japan showing mixed signals on the economy in November. Core consumer prices, which excludes fresh food, fell 0.4% y/y– a bit more than the expected decline of 0.3% y/y, while the Bank of Japan's core inflation measure, which excludes prices of fresh food and energy, rose 0.2% y/y in November, slowing from 0.3% y/y in October. The unemployment rate rose from 3.0% to 3.1%, while the job-to-applicant ratio rose to 1.41, which is the highest since July 1991. The latter underscores that the Japanese labour market remains tight despite the uptick in the unemployment rate. In all, we still expect the Japanese economy to continue to grow above trend in the coming year, among others supported by the government's fiscal stimulus package, and in our main scenario we expect the BoJ to keep monetary policy unchanged throughout our 12-month forecast horizon.

  8. #108

    USD/JPY Jumps on Weak Data

    The portion of buy orders decreased from 56% to 55%
    Market sentiment remains bearish at 54%
    Immediate resistance lies around 117.40
    The closest support rests around 116.50
    Upcoming Events: US CB Consumer Confidence; US Richmond Manufacturing Index

    Japan's household spending went down 1.5% on a yearly basis in November for the ninth month in a row amid stagnant wages, hinting the challenge Prime Minister Shinzo Abe's government faces in reinvigorating the economy. Separate data showed that Japanese core consumer prices also posted the ninth straight month of annual declines in November, suggesting that the economy still lacks enough momentum to jump-start inflation toward the central bank's ambitious 2% target. Moreover, Tokyo officials have blamed external factors, such as falling energy prices and uncertainty related to emerging economies, for their failure to achieve a promised stated above inflation target. In the meantime, the Japanese economy may finally be getting some relief in the form of a weaker yen. It is worth to point out that Japanese currency has dropped roughly 12% against the US dollar since the November 8 presidential election. Losses have accelerated since the Federal Reserve's decision to raise US interest rates on December 14. Moreover, the yen's weakness is predicted to continue in the new year since central banks in Washington and Tokyo continue to diverge on monetary policy.
    Existing home sales in the United States rose for the third consecutive month in November, surprising markets and hitting their highest level for almost a decade. According to the National Association of Realtors, home resales advanced 0.7% to an annualized rate of 5.61 million units in the reported period, following October's downwardly revised rate of 5.57 million, surpassing analysts' expectations for a slight decline of 1.0% to a 5.52 million-unit pace and reaching the highest since February 2007. On an annual basis, sales increased 15.4% in November. According to the latest data published by Freddie Mac, the fixed 30- year mortgage rate has climbed around 60% to an average rate of 4.16% since Donald Trump's victory in the US presidential election. Moreover, mortgage rates are likely to go even higher after the Fed rose its key interest rate to 0.75% from 0.50% last week as well projected three more hikes in 2017. Separately, the Energy Information Administration announced on Wednesday a 2.3 million barrel increase in US crude oil inventories during the week ending December 16, while market analysts anticipated a decline of 2.4 million barrels, following the preceding week's 2.6 million barrel sli

  9. #109

    GBP/USD Meets Resistance

    The share of sell orders decreased to 57% from 60%
    63% of traders have a positive outlook towards the British currency
    Immediate resistance is around 1.2340
    The closest support is at 1.2250
    Upcoming Events: US CB Consumer Confidence; US Richmond Manufacturing Index

    New orders for US-made capital goods advanced more than expected in November due to strong demand for machinery and primary metals, suggesting some of the oil-related drag on manufacturing was starting to fade. According to the Commerce Department non-defense capital goods orders excluding aircraft, a went up 0.9% after an unrevised 0.2% gain in October. Moreover, there were increases in orders for electrical equipment, appliances and components, as well as computers and electronic products. A drop in oil prices last year, together with a surge in the dollar, pressured manufacturing. Much of the impact has been through weak business spending on equipment, which has contracted for four consecutive quarters. However, with oil prices hovering above $50 per barrel, manufacturing, which accounts for 12% of the US economy, is starting to perk up. In the meantime, the US economy soared at a faster pace last quarter than previously estimated, but the stronger gains only help bring the year's growth rate back in line with the long, sluggish expansion. According to the Commerce Department the US GDP expanded at an inflation- and seasonally adjusted annual rate of 3.5% in the third quarter.
    Existing home sales in the United States rose for the third consecutive month in November, surprising markets and hitting their highest level for almost a decade. According to the National Association of Realtors, home resales advanced 0.7% to an annualized rate of 5.61 million units in the reported period, following October's downwardly revised rate of 5.57 million, surpassing analysts' expectations for a slight decline of 1.0% to a 5.52 million-unit pace and reaching the highest since February 2007. On an annual basis, sales increased 15.4% in November. According to the latest data published by Freddie Mac, the fixed 30- year mortgage rate has climbed around 60% to an average rate of 4.16% since Donald Trump's victory in the US presidential election. Moreover, mortgage rates are likely to go even higher after the Fed rose its key interest rate to 0.75% from 0.50% last week as well projected three more hikes in 2017. Separately, the Energy Information Administration announced on Wednesday a 2.3 million barrel increase in US crude oil inventories during the week ending December 16, while market analysts anticipated a decline of 2.4 million barrels, following the preceding week's 2.6 million barrel slip.

  10. #110

    Weekly Fundamental View

    Coming up
    British and Canadian bank holidays on Tuesday, 27 December.
    Banks from the UK and Canada extend their holiday to Tuesday as the first Christmas day was celebrated on Sunday.
    Why should you care? The market movements tend to be less volatile on average when banks from countries with major currencies are closed.
    CB consumer confidence from the US comes out on Tuesday, 27 December.
    The report shows the level of financial confidence which is a critical indicator of consumer spending. The survey asks roughly 5,000 households their opinion on current and future economic trends in the field of labour opportunities and economic/business conditions. The previous figure was 107.1 and the current forecast is 108.5(*).
    Why should you care? An increase in consumer confidence indicates a stronger belief in the (growth of) economy. A decrease in consumer confidence, however, hints at weaker confidence in the overall economy.
    Crude oil inventories are released on Thursday, 29 December.
    A buildup in crude oil inventories usually signals decreasing demand from refiners. On the other hand, a drop would signal that refiners are still producing at elevated levels, and the inventory overhang in oil products could continue. This is primarily a US indicator, but it also affects CAD due to Canada's huge energy sector. Previous data showed a change of +/- 2.3m barrels(*).
    Why should you care? The price of petroleum products influences inflation, which impacts oil-dependent industries.
    Initial jobless in the US claims come out on Thursday, 29 December.
    This report indicates how many individuals asked for unemployment insurance for the first time during the past week. The previous figure was 275k, and the current forecast is 265k(*).
    Why should you care? The overall economic health of the US (like many other countries) depends on the labour market because of its close correlation with consumer spending.
    New Year's Day on Sunday, 1 January.
    The year 2016 comes to an end, and the new year 2017 begins.
    Why should you care? New monthly candles and yearly lows and highs are available on the price charts.

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