Today the US stock exchanges are open, trying to squeeze in some of the last profitable deals before the year ends. Tomorrow, however, is a holiday and the markets will be much quieter than today.
Still, despite the upcoming holiday, today investors can still watch out for several events. First off, in the United States we expect the Consumer Confidence Index for December. This is an important indicator about the current state of the economy; as long as the results meets (or exceeds) the forecasts, the news will be good for the US dollar. But if the index is lower than expected, this could mean that the US economy is under pressure, which could weaken the USD.
There will also be several other reports from the United States, such as the house price index and the home price index, but those are only of a medium degree of importance for the markets.
Later in the day we’ll also get a new reading on US oil reserves from the American Petroleum Institute. Crude oil prices previously increased due to OPEC’s lower production output and the positive developments in the trade talks between the US and China, which encouraged investors to expect more demand from China. Now oil is undergoing a price correction and decreasing in price once again.
