Skip to content


Key events this week

The pre-Christmas week was relatively calm on equity markets and brought further strengthening of the US dollar. The calendar for the final week of the year is relatively empty but be prepared for year-end moves which could be quite abrupt. 

US data:  Pending Home Sales (Wednesday, 3pm GMT) and Chicago PMI (Friday, 2:45PM GMT)

The US reports scheduled for the  week are generally second-tier when it comes to market impact. However we have witnessed a substantial rally on the US dollar and traders might want to make sure that the data supports the bullish case. Therefore the reports will be scrutinized. 

Oil market: US inventory data (Thursday, 4pm GMT), Rig Count data (Friday 6pm GMT)

Oil prices have rallied substantially towards the end of the year on the back of the OPEC deal. US output could be the main risk for the bull going forward – if the US producers increase the amount of oil they pump, they may negate a positive impact of the OPEC deal on oil prices. Therefore investors will keep an eye on the data on US inventories, output and rig count. Higher rig count should mean more output in few months’ time. 

Year-end positioning (Friday)

Final sessions of the year often bring substantial volatility amid reduced liquidity and position squaring by traders and investment funds. Traders should watch carefully instruments where we see a build-up of speculative positions. According to the CFTC reports we see a large amount on net long speculative positions in oil and US dollar while a historically high net short positions can be observed on the Japanese yen and British pound.



This article is provided for general information purposes only. Any opinions, analyses, prices or other content is provided for educational purposes and does not constitute investment advice or a recommendation. Any research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Any information provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.

Past performance is not necessarily indicative of future results, and any person acting on this information does so entirely at their own risk, we do not accept liability for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.