This week marks the final trading days of the year, coinciding with Christmas and several global market holidays. Market liquidity is expected to be thin, and volatility may be more pronounced on seemingly minor data due to lower participation. A key highlight of the week will be delayed third-quarter economic data from major economies, particularly the United States and the United Kingdom. Markets in many regions will close early or remain closed on Christmas Eve and Christmas Day, and trading resumes in a limited capacity on Friday. Traders should prepare for low volume conditions and potential sharp price movements on limited data releases.
📅 Monday, 22 December 2025
Market sentiment: start of holiday week; most major economies quiet
- Central bank policy focus:
- CNY: People’s Bank of China interest rate decision / policy announcement
Market may respond if comments deviate from expectations.
- CNY: People’s Bank of China interest rate decision / policy announcement
- Major economic output:
- GBP: United Kingdom GDP Final Estimate (Q3 2025)
Insight into UK economic growth momentum and potential FX impact.
- GBP: United Kingdom GDP Final Estimate (Q3 2025)
- Generally light data across other regions amid holiday market conditions.
- Market participants prepare for a light week; central bank commentary and residual trade figures may still circulate.
- Reduced activity in Asia and Europe as institutions begin winding down for year-end.
📅 Tuesday, 23 December 2025
Focus on U.S. macro data and consumer trends
United States
- Advance Gross Domestic Product (GDP) – Q3
A key broad measure of economic growth for the third quarter. - Durable Goods Orders – October
Indicator of business investment and future manufacturing activity. - Consumer Confidence Index – December
Sentiment gauge reflecting consumer outlook and spending intentions. - Industrial Production & Capacity Utilization – October/November
Measures of factory output and utilization of productive capacity.
Canada / Europe / Others
- Canadian GDP – Monthly
A snapshot of economic activity in Canada. - European import price or producer price readings may surface as regional data flow continues.
Other Events
- Minutes or commentary releases from central banks like the Reserve Bank of Australia (RBA) and Bank of Canada (BoC) related to recent policy meetings may be disseminated, giving insight into future monetary policy leanings
📅 Wednesday, 24 December2025
Focus on U.S. macro data and consumer trends
United States
- Advance Gross Domestic Product (GDP) – Q3
A key broad measure of economic growth for the third quarter. - Durable Goods Orders – October
Indicator of business investment and future manufacturing activity. - Consumer Confidence Index – December
Sentiment gauge reflecting consumer outlook and spending intentions. - Industrial Production & Capacity Utilization – October/November
Measures of factory output and utilization of productive capacity.
Canada / Europe / Others
- Canadian GDP – Monthly
A snapshot of economic activity in Canada. - European import price or producer price readings may surface as regional data flow continues.
Other Events
- Minutes or commentary releases from central banks like the Reserve Bank of Australia (RBA) and Bank of Canada (BoC) related to recent policy meetings may be disseminated, giving insight into future monetary policy leanings
📅 Thursday, 25 December 2025
Public holiday in most global markets
- No scheduled major economic releases.
- Most Western markets (U.S., Europe) are closed for Christmas.
- Asia markets may operate but typically with lower participation.
- Any data published will likely see muted market reaction due to low liquidity.
📅Friday, 26 December 2025
Boxing Day in some regions; return to regular but light schedules
- Any late-week indicators (producer price data, minor confidence readings, sector surveys) may be released but typically with limited market impact due to holiday season participation levels.
- No notable macroeconomic releases scheduled for major economies.
- Markets generally return to regular trading hours in the U.S., but event density remains low.
Notes
- China policy decision and UK GDP provide early week drivers.
- US GDP and Consumer Confidence on Tuesday are the primary scheduled macro catalysts.
- Mid-week and late-week sessions are dominated by holiday closures and thin trading conditions.
- Traders should monitor central bank commentary and any unexpected data releases due to the limited macro calendar.
- Thin liquidity periods often amplify price moves on unexpectedly large orders or unexpected headlines.
- Absence of major labor, inflation or central bank decisions during this week implies that move-making data will focus on previously delayed releases and regional/date-specific indicators.
- Traders should be cautious about holiday distortions, early closures, and cross-market timing mismatches which can affect FX volatility.
