Weekly Analysis (25-29 Dec)

Time	Currency	Event
Monday
All Day	ALL	Christmas Holiday
Tuesday
All Day	AUD	Boxing Day
-	NZD	-
-	CAD	-
-	GBP	-
-	EUR	-
05:00	JPY	BoJ Core CPI (YoY)
Wednesday
21:30	USD	API Weekly Crude Oil Stock
23:50	JPY	Industrial Production (MoM) (Nov)
Thursday
13:30	USD	Initial Jobless Claims
15:00	JPY	Pending Home Sales (MoM) (Nov)
16:00	USD	Crude Oil Inventories
Friday
All Day	NZD	New Year's Day
Early close at 12:30	GBP	New Year's Day
14:45	USD	Chicago PMI (Dec)

This week, the major currencies will be influenced by important economic data.

The US dollar will be influenced by the release of the Chicago Fed's national economic activity and house price figures on Tuesday, which will shed light on the state of the US housing sector. A rise in house prices indicates a strong economy, promotes consumer confidence, and potentially leads to demand-driven inflation.

On Thursday, the focus will be on US jobless claims data, which is an important indicator of the stability of the labor market. Stable claims confirm a strong labor market, promote wage growth and higher disposable income, potentially stimulating consumer spending and contributing to inflationary pressures.

The Chicago Purchasing Managers' Index figures for December will be important for the US dollar on Friday. A significant decline could reignite fears of an economic downturn.

The euro will be influenced by Spanish economic indicators, with Friday's inflation figures being the most important event. Persistently high inflation could reinforce the European Central Bank's stance on maintaining higher interest rates further to combat inflation.

UK house price data due on Friday will be crucial for the British pound. A fall in house prices could have a negative impact on the pound, reducing consumer confidence and spending. This trend could prompt the Bank of England to consider cutting interest rates.

The Canadian Dollar will be influenced by external factors this week, most notably crude oil prices and risk sentiment in the market. In addition, Chinese industrial profits figures due on Wednesday could influence the currency as these figures are an indicator of the health of the global economy.

The Australian and New Zealand dollars will also react to the Chinese economic data. Positive data could increase demand for goods and strengthen the respective currencies.

Finally, the Japanese yen will be in focus on Tuesday as labor market data will shed light on wage trends and the potential increase in consumer spending. Retail sales data on Thursday and finalized industrial production figures will shape Japan's economic outlook.