The US dollar hit a 14-year peak early last week, but slipped against a basket of major currencies in low volume trading prior to the Christmas holiday weekend. Most markets will remain closed for Christmas and New Year celebrations next week. Trading is likely to be lean during the coming week as only few key US economic data are scheduled to be released during the course of the week. US data releases for the week include the CB consumer confidence index, jobless claims and crude oil inventories.

#1: US CB Consumer Confidence (12/27/2016 Tuesday 15:00 GMT)

Consumers’ outlook about the economy was more optimistic in November, according to the monthly Consumer Board consumer confidence survey report. The CB Consumer Confidence Index rose to 107.1 in November from 98.6 in the previous month. This is the highest reading of the index since July 2007. Economists had expected that the CB Consumer Confidence Index would hit the 101.2 mark in November. For the month of December, it is expected that the index will further rise to 108.9.

#2: US Initial Jobless Claims (12/29/2016 Thursday 13:30 GMT)

The number of American people filing for jobless benefits increased by 21,000 to 275,000 during the week ended December 17, 2016 from the unrevised 254,000 reported for the previous week. The reading came in above the market expectation of 256,000 and hit the highest level since the week that ended on June 11, 2016. It is expected that the initial jobless claims would further increase to 277,000 for the upcoming reporting period.

#3: US Crude Oil Inventories (12/29/2016 Thursday 16:00 GMT)

Crude oil stocks in the United States increased by 2,256,000 barrels during the week ended December 16, 2016, recording the first increase in as many as five weeks and against the market expectations that the stocks would fall by 2,500,000 barrels. Gasoline stocks declined by 1,309,000 barrels against expectations that it would increase by 1,420,000 barrels.