Need to know
This week's main focus is on the Bank of Japan's (BOJ) monetary policy statement. There will also be a press conference and an interest rate announcement.
British and Canadian bank holidays on Tuesday, 27 December.
Banks from the UK and Canada extend their holiday to Tuesday as the first Christmas day was celebrated on Sunday.
Why should you care? The market movements tend to be less volatile on average when banks from countries with major currencies are closed.
CB consumer confidence from the US comes out on Tuesday, 27 December.
The report shows the level of financial confidence which is a critical indicator of consumer spending. The survey asks roughly 5,000 households their opinion on current and future economic trends in the field of labour opportunities and economic/business conditions. The previous figure was 107.1 and the current forecast is 108.5(*).
Why should you care? An increase in consumer confidence indicates a stronger belief in the (growth of) economy. A decrease in consumer confidence, however, hints at weaker confidence in the overall economy.
Crude oil inventories are released on Thursday, 29 December.
A buildup in crude oil inventories usually signals decreasing demand from refiners. On the other hand, a drop would signal that refiners are still producing at elevated levels, and the inventory overhang in oil products could continue. This is primarily a US indicator, but it also affects CAD due to Canada's huge energy sector. Previous data showed a change of +/- 2.3m barrels(*).
Why should you care? The price of petroleum products influences inflation, which impacts oil-dependent industries.
Initial jobless in the US claims come out on Thursday, 29 December.
This report indicates how many individuals asked for unemployment insurance for the first time during the past week. The previous figure was 275k, and the current forecast is 265k(*).
Why should you care? The overall economic health of the US (like many other countries) depends on the labour market because of its close correlation with consumer spending.
New Year's Day on Sunday, 1 January.
The year 2016 comes to an end, and the new year 2017 begins.
Why should you care? New monthly candles and yearly lows and highs are available on the price charts.