We bring you the first overview of the most interesting economic events we followed at the turn of the year!
We hope that you enjoyed the Christmas holidays and the New Year celebrations abundantly and to your liking. 😊
Now is the time to get back in front of your computers and keep an eye on what economic events may affect your trading.
We wish you pleasant reading and many profitable deals in 2022!
Last trading week was pretty poor for economic data thanks to the Christmas holidays and New Year celebrations. Still, a few results caught our attention.
Right on Monday (26 December) we focused our attention on the incoming Japanese annual retail sales data, which came out slightly more positive than the previous one (1.9 % actual vs. 0.9 % previous). Retail sales measure the change in the inflation-adjusted total value of sales at the retail level. It is a leading indicator of consumer spending, which accounts for the majority of total economic activity.
A day later, we got data on U.S. Pending Home Sales. The National Association of Realtors (NAR) Pending Home Sales report measures the change in the number of homes under contract to be sold but still waiting to close on the transaction, excluding new construction. This report does not have that much impact on currency, but it is interesting for a general overview of the US economy.
What's in store for the current trading week?
The first trading week of the New Year is usually slower to get going. This means we expect less volatility and frequency of economic news.
Earlier in the week, we will focus on UK PMI data and US Nonfarm payrolls data.
We can't wait for a good dose of economic events this year will bring!