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Key Takeaways
- GDP data arrives from the US, the UK, and Canada
- Friday will see markets closed due to the Christmas period approaching
Holiday Week Ahead for Financial Markets
The week starting Monday, December 20, will be lighter and shorter due to the Holiday period approaching. As 2021 enters its closing lap, financial markets globally can take some time to let off the steam.
To this end, Friday will see stock markets closed around the world while currencies are likely to trade in low volatility.
We skip Monday for lack of major news and market developments and move on to the next day.
On Tuesday, the UK releases its November retail sales at 04:30 am EST. Later, at 08:30 am EST, Canada publishes its core retail sales report for October.
On Wednesday, the UK will release its gross domestic product data at 02:00 am EST. The report will highlight the pace of growth of the UK economy in the third quarter. This said, preliminary data showed the UK economy grew by 1.3% on a quarterly basis and 4.6% on an annual basis.
GDP Data from the US, Markets Closed on Friday
Next, at 08:30 am EST, the US will release its own gross domestic product figure, also for the third quarter. It’s important to note that preliminary data showed the world’s biggest economy expanded 2.1% on a quarterly basis in the quarter ended September.
On Thursday, the US reports its core durable goods orders for November at 08:30 am EST. At the same time, Canada releases its gross domestic product number for October. At 10:00 am, new home sales for November arrive from the US.
On Friday, the US stock market will be closed. In other words, the New York Stock Exchange and the Nasdaq will not be working and stock trading will not be possible. Other major markets around the world will operate on a holiday schedule.
In more detail, the UK will close at 12:30 pm native time, while France will switch off at 02:05 pm native time. Also, Australia will punch the clock with an early close at 14:30 pm native time. In addition, markets in Germany, Switzerland, and Italy will be closed the whole day.