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<b> MARKET</b> ANALYSIS <b> MARKET</b> ANALYSIS

MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making

WEEKLY OUTLOOK 27.12.2022 - 30.12.2022


After the declines, we have the rising candles on all the main indices and the general proximity to the support and resistance could only enhance the reversal. The highlight of the Santa Claus Rally is upon us. In the first post-Christmas session, the European stock markets are demonstrating this with an upward start. The good news that China will lift the quarantine for travellers from January 8 is a companion for this start of the operational week.

All retail investors will be focused on the upside red-white this week with the markets orphaned by most institutional investors. We must not forget that a market free from the institutional economic drift is much more reactive and sensitive. So there are opportunities in the horizon this week in which you can take advantage even with modest figures.

As far as events are concerned, Thursday is the most important day of the week with the Initial Jobless Claims and the EIA-branded Oil Inventories which, as usual, will be brought forward to Wednesday by the API-branded ones preceded by the Pending Contracts for the Sale of Homes . Staying on oil, the week closes out on Friday with the Baker Hughes Rigs data.

With a calendar in the making, the Central Bank of Japan minutes may come as a surprise on Wednesday. On the gas front, Russia, worried about the economic situation, seems ready to restart the shipment of gas to Europe under the conditions dictated by the Union in anticipation of the arrival of the Siberian wind on the rest of the continent in February.


Tuesday 27 December

Time CET

Cur.

Event

Forecast

Previous

14:30

USD

Goods Trade Balance (Nov)

-96,90B

-98,80B


Wednesday 28 December

Time CET

Cur.

Event

Forecast

Previous

16:00

USD

Pending Home Sales Contracts (Monthly) (Nov)

-1,0%

-4,6%

22:30

USD

Weekly stocks of oil

-3,069M


Thursday 29 December

Time CET

Val.

Event

Forecast

Previous

14:30

USD

Initial jobless claims

225K

216K

17:00

USD

Stocks of crude oil

-1,657M

-5,894M

17:00

USD

Cushing, Oklahoma inventory of Crude Oil inventories

0,853M


Friday 30 December

Time CET

Cur.

Event

Forecast

Previous

09:00

CHF

KOF Leading Indicator (Dec)

90,5

89,5

15:45

USD

Chicago Purchasing Managers Index (Dec)

40,0

37,2

19:00

USD

Drilling rigs USA Baker Hughes

622

19:00

USD

Baker Hughes data on the total number of mining facilities in the US

779



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