While the economic calendar may be lighter over the festive period, there are still a number of data releases that could impact the currency market and the Pound (GBP), Euro (EUR), US Dollar (USD), Turkish Lira (TRY), Australian Dollar (AUD), South African Rand (ZAR) and Indian Rupee (INR) exchange rates.
Tuesday 26th December
Boxing Day sees the release of Indian Inflation Rate data which may create some movement for the Pound Sterling to Indian Rupee (GBP/INR) exchange rate. October’s reading came in at 8.4% and economists have forecast a jump higher to 10.2%. The Indian Rupee has recently fallen on the back of surging inflation as investors feared it posed a threat to a still-struggling economy and could create a tricky scenario for Reserve Bank of India (RBI) policymakers.
Additionally, the Pound to Turkish Lira (GBP/TRY) exchange rate could experience some movement following the release of the Turkish Business Confidence and Capacity Utilisation numbers. In the US, Consumer Confidence and Richmond Fed Manufacturing Index will be released to create Pound to US Dollar (GBP/USD) fluctuations.
Wednesday 27th December
UK Mortgage Approvals data will be released on Wednesay and is currently forecast to come in at 40.2K in November. The October figure came in at 40.48K.
In terms of US data, the nation will reveal its November Pending Home Sales stats, as well as the API Crude Oil Stock Change figure.
Thursday 28th December
The Pound to South African Rand (GBP/ZAR) exchange rate could be in for some fluctuations today with the release of the South African M3 Money Supply, Private Sector Credit, and Balance of Trade numbers. Additionally, the UK’s Nationwide Housing Price numbers will be thrown into the mix.
Friday 29th December
This could be an influential day for the Pound with the release of the GfK Consumer Confidence index. The November figure came in at -12, but the December reading is forecast to improve slightly to -11.
Additionally, Australian New Home Sales and Private Sector Credit numbers are out, as well as Eurozone Loan Growth and M3 Money Growth stats, and highly influential German inflation figures.