As the holiday season nears, a shortened trading week brings a few notable economic updates. Here’s what to watch during December 23-24, 2024:

Monday: Canada’s GDP for October and November (13:30 GMT)

Analysts anticipate a slight uptick in Canada’s GDP for October, forecasting a 0.2% month-over-month increase, compared to the earlier estimate of a 0.1% decline. This will be the final GDP update before the Bank of Canada’s monetary policy decision in late January. RBC economists also expect November’s preliminary figures to show minimal growth, reflecting persistent economic headwinds.

Tuesday: US November Durable Goods Orders (13:30 GMT)

The US will release its durable goods data for November, with projections suggesting a 0.4% month-over-month decline, following a 0.2% rise in October. Headline orders are expected to drop 0.5%, driven by weaker civilian aircraft bookings. Excluding transportation, durable goods orders are forecast to rise modestly by 0.2%, with a consensus estimate of a 0.3% increase, highlighting some resilience in core industries.

Holiday Notice: Ibafin Winter Schedule

Ibafin will close for the year following the US trading session on Tuesday, December 24. Operations will resume on Wednesday, January 7th, 2025. Wishing everyone a joyful and restful holiday season!

With only a few trading days remaining, these reports offer critical insights into economic momentum heading into 2025. Stay informed and prepare for regular market activity in the new year!