Welcome to the latest summary of the most interesting economic events of this business year!
We hope that you enjoyed the Christmas holidays in peace and family and we hope that you will celebrate the New Year properly, as it should be. 😊
We wish you lots of energy and success in the New Year 2022, not only in the field of trading. Make yourselves proud!
Last trading week was in the Christmas spirit on the markets, which is why volatility was more moderate. Even so, we did watch some interesting data that came in before the holidays.
CAD
The start of the week (Tuesday) brought us Canadian Core Retail Sales data, which rose to a current reading of 1.3% (previous - 0.2%). In general, a higher value indicates a bullish sentiment for the currency. On Thursday we could then look forward to October GDP, which was slightly more positive (from 0.2% to 0.8%). Canadian GDP will likely offset the pandemic's decline in the first quarter, but a return to trend will take time after 2022.
GBP
On Wednesday we focused on UK GDP data, which as expected offered no surprises and zero market catalysts.
GDP QoQ: 1.1% (forecast 1.3%, previous 1.3%)
Annual GDP: 6.8% (forecast 6.6%, previous forecast 6.6%)
USD
On the same day (Wednesday), we also watched GDP data from the USA, which came out worse than last month (2.3% vs. 6.7%).
What's in store for the current trading week?
This week will be quiet in the markets due to the Christmas holidays and the start of the New Year 2022 celebrations.
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