Last Week Risers & Fallers:
- Amazon (Nasdaq: AMZN) – Amazon was up 0.68% on Friday, closing at $3400.35 per share. However, the stock suffered a loss of 1.09% in the last five days. The stock market is behaving choppy amidst the Omicron variant uncertainties.
- HSBC (Nasdaq: HSBA) – HSBC’s share price dropped by 0.62% on Friday, closing at $445.45. HSBC was fined by the UK’s financial conduct authority over the lack of anti-money laundering controls between 2010 and 2018. The lender was fined $85 million.
- Crude Oil – Crude oil prices have been on a downtrend and slipped by 2.89% on Friday. Demand has dropped due to the Omicron variant. The price is trading at $70.29 per barrel.
- EURUSD – EURUSD declined by 0.798% on Friday. However, the EURO was stronger earlier in the week, but it lost its gains when the pair reached the high of the consolidation phase. The pair is trading at the 1.1247 price level.
Major events to watch:
- CANADA (CAD): Core Retail Sales – Core Retail Sales measures the change in the total sales value at the retail level in Canada, excluding automobiles. It is an important indicator of consumer spending and is also considered a pace indicator for the Canadian economy. The last retail sales number was -0.2%, better than the forecast of -1.0%.
The report is due Tuesday, 21 December at 09:30 GMT.
- USA (USD): GDP (QoQ) Q3 – Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of its health. The last GDP was 2.1% which was below the forecast of 2.2%
The report is due Wednesday, 22 December at 13:00 GMT.
- USA (USD): New Home Sales – New Home Sales measures the annualized number of new single-family homes sold during the previous month. The last number was 74,000, which was worse than the forecast of 800,000. This report tends to have more impact when released ahead of Existing Home Sales because the reports are tightly correlated.
The report is due Thursday, 23 December at 15:00 GMT.
