A Likely Quiet Trading Day But With One Important Economic Report
A Likely Quiet Trading Day But With One Important Economic Report: Start a free trial of The Sevens Report.
Futures are modestly lower in quiet trading following the Christmas holiday.
Economically, the only notable event overnight was “not hawkish” commentary by BOJ Governor Ueda, who was vague when speaking about future rate hikes (although markets do expect the BOJ to hike rates in 2025).
Most major global markets were closed for Christmas and will remain closed today, including major European markets and Hong Kong.
Given the numerous global market closures, trading should be quiet today. That said, there is one notable economic report, Jobless Claims (E: 223K), and investors will want to see an in-line to slightly weak number that does not push back on any 2025 rate cut hopes.
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