Markets This Week: The Holiday Season Celebrations Around the Corner

This week ahead looks to be a lighter one for the global financial markets as the holidays season gets underway.


The US:


The holidays season is around the corner starting with Thanksgiving on Thursday. As a result, the markets will close early on Friday at 18:00 (GMT+4).


Tomorrow, FOMC Meeting Minutes are expected be published at 19:00 GMT +4 (Dubai Time). The minutes provide investors valuable insights towards the Fed’s future monetary policy decisions. According to analysts, any hawkish remarks could fuel a surge in the US Dollar.


Existing Home Sales, a proxy for the health of the US housing sector is also expected to be released on Tuesday at 19:00 GMT +4 (Dubai Time).  The release measures the change in the number of existing residential buildings that were sold during the previous month. Home sales data declined during October to 3.90M from a previous figure of 3.96M.  A higher-than-expected figure may be positive for the USD, and vice versa, according to analysts.


On Wednesday, Initial Jobless Claims will be released at 17:30 GMT +4 (Dubai Time). This data measures the number of individuals who filed for unemployment insurance for the first time during the previous week, and is one of the leading indicators of the current economic environment. A higher-than-expected figure maybe negative for the USD and vice versa, according to analysts. Overall, Initial Jobless Claims is expected to have declined to 225K, compared to a previous figure of 231K.  Last week, jobless claims reached a three-month high, reflecting a cooling labor market.



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