The Week Ahead – COVID-19 Vaccine News, Brexit, and U.S Stimulus in Focus

For the Dollar:

It’s another busy week ahead on the economic data front, however, with U.S stats making up the lion’s share of the calendar.

On Tuesday, finalized 3^rd quarter GDP and November existing home sales figures are due out.

Barring a marked downward revision to GDP numbers, the stats should have a muted impact on the Dollar.

On Wednesday, November inflation, personal spending, and new home sales figures are due out. Expect inflation and personal spending figures to garner the greatest interest.

Finalized consumer sentiment figures for December are also due out, which should have limited influence.

On Thursday, November core durable goods and durable goods orders are due out along with the weekly jobless claims figures.

In a shortened session, expect the core durable goods orders and jobless claims figures to have the greatest impact on market risk sentiment.

Away from the economic calendar, Capitol Hill remains a key area of interest.

The Dollar Spot Index ended the week down by 1.06% to 90.016.

For the EUR:

It’s a particularly quiet week ahead on the economic data front, with most European markets closed on Thursday and Friday. Just France and Spain have a shortened session on Thursday, with Germany and Italy closed on both days.

Flash Eurozone consumer confidence figures will draw interest on Monday. An upward movement is expected, with COVID-19 vaccine news to provide support.

On Tuesday, GfK Consumer Climate figures for January are due out, which will likely provide further EUR support. COVID-19 vaccine news should also support a pickup in consumer sentiment at the turn of the year.

Finalized 3^rd quarter GDP numbers from Spain, however, should have a muted impact on the EUR on Wednesday.

Away from the economic calendar, COVID-19 and Brexit news will also influence.

The EUR ended the week up by 1.20% to $1.2257.

For the Pound:

It’s a relatively busy week ahead on the economic calendar.

Finalized 3^rd quarter GDP numbers are due out on Tuesday, along with current account and finalized business investment figures.

Barring marked revisions from prelim estimates, the markets will likely brush aside the stats in the week.

Away from the economic calendar, updates on Brexit and COVID-19 will influence before the holidays.

The Pound ended the week up by 2.27% to $1.3524.

For the Loonie:

It’s a relatively quiet week ahead on the economic calendar.

On Wednesday, October GDP figures are due out ahead of November building permit numbers on Thursday.

Expect the GDP figures to garner the greatest interest.

It’s a shortened week for the Loonie, with the Canadian market on a shortened day on Thursday and closed on Friday.

Away from the economic calendar, COVID-19 vaccine news and updates from Capitol Hill will also influence.

The Loonie ended the week down by 0.15% to C$1.2788 against the U.S Dollar.