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This week will not be busy because of the Christmas and New Year holidays. As a rule, bankers and investors go on vacation at this time, so the volatility in the last week of the year is below average. But there are still events to watch out for. The investors' attention will be focused on crude oil reserves on Thursday, which has a significant impact on oil prices. Also, it’s worth paying attention to the economic data from Japan at the beginning of the trading week.

Monday, December 26

It’s a bank holiday in the United States, Canada, the United Kingdom, Australia, New Zealand, Hong Kong, Singapore, and most European countries, because of Christmas. Only the Asian (China, Japan) markets will work. But no important events are expected, so volatility will be low.

Main events of the day:

• – Japan BoJ Governor Kuroda Speaks at 02:00 (GMT+2).

Tuesday, December 27

Japan's Unemployment Rate will be the most important release on Tuesday. Analysts predict that the level of unemployment will remain the same. It’s a bank holiday in Canada, Australia, New Zealand, Hong Kong, and the United Kingdom.

Main events of the day:

• – Japan Unemployment Rate (m/m) at 01:30 (GMT+2);
• – Japan Retail Sales (m/m) at 01:30 (GMT+2).

Wednesday, December 28

The main event on Wednesday will be the Industrial Production data in Japan and real estate market data in the United States. In the US the housing sector is under strong pressure because of high-interest rates so the sector is in recession.

Main events of the day:

• – Japan Industrial Production (m/m) at 01:50 (GMT+2);
• – US Pending Home Sales (m/m) at 17:00 (GMT+2).

Thursday, December 29

The US Labor Department will update the weekly statistics on initial jobless claims on Thursday. This is an important indicator the Federal Reserve considers in order to adjust monetary policy. So traders should keep a close eye on this data. The US Crude Oil Inventories should also be the focus of traders. The previous two reports showed a sharp decline in inventories, which led to an increase in oil prices.

Main events of the day:

• – US Initial Jobless Claims (w/w) at 15:30 (GMT+2);
• – US Chicago PMI (m/m) at 16:45 (GMT+2);
• – US Natural Gas Storage (w/w) at 17:30 (GMT+2);
• – US Crude Oil Inventories (w/w) at 18:00 (GMT+2).

Friday, December 30

The most important Friday release for investors will be the inflation data in Spain. Analysts predict that consumer prices will show signs of slowing. The New Year holidays are beginning all over the world. Early markets close in the United Kingdom, New Zealand, and Australia.

Main events of the day:

• – Switzerland KOF Leading Indicators (m/m) at 10:00 (GMT+2);
• – Spanish Consumer Price Index (m/m) at 10:00 (GMT+2).

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