Economic calendar: Final week of the year

• European stock markets set to open higher

• Second tier data from US 

• Holidays in UK, Canada and Australia

European index futures point to a higher opening of today's cash session. Markets are still in Christmas moods and trading ranges on the FX market during the Asian session were narrow. Oil gains as China relaxes travel restrictions. From January 8th, China will no longer include COVID-19 among the infectious diseases requiring quarantine for inbound travelers, according to NHC. Traders from the UK, Canada and Australia extend their Christmas break.

Economic calendar for the European morning session today is empty. Some second-tier US data, including Dallas manufacturing index for December will be released in the afternoon, but it is unlikely to have an impact on the markets. Liquidity conditions are expected to be thinner throughout the final week of the year due to numerous bank holidays in different countries. There are no major data releases scheduled for this week either so traders should expect end-year rebalancing flows and headlines to steer markets.

1:30 pm GMT - US, wholesale inventories for November (preliminary). Expected: 0.7% MoM. Previous: 0.5% MoM

2:00 pm GMT - US Housing Price Index for October. Expected: 0.8% MoM. Previous: 0.1% MoM

3:30 pm GMT - US, Dallas manufacturing index for December. Previous: -14.4 pts

No trading due to holidays: AUS200, UK100, HKComp, CHNComp, ALUMINIUM, COPPER, NICKEL, ZINC.