Five things to know before the market trades this week, Dec 8-14

Condominiums in the Newton area. Singapore Real Estate Exchange (SRX) Property releases on Tuesday its flash estimates for how the private home resale market fared in November. -- ST PHOTO: ALPHONSUS CHERN
Condominiums in the Newton area. Singapore Real Estate Exchange (SRX) Property releases on Tuesday its flash estimates for how the private home resale market fared in November. -- ST PHOTO: ALPHONSUS CHERN

With Christmas approaching in earnest, the economic data calender has started to lighten, but there are still some business to get through before the turkey and presents.

1. Buy, sell - or wait some more?

Singapore Real Estate Exchange (SRX) Property releases on Tuesday its flash estimates for how the private home resale market fared in November. Last week, its estimates for the HDB market showed resale prices falling 0.8 per cent last month to hit a 40-month low.

Resale prices of non-landed private homes rose slightly in October on a still shrinking number of deals, according to SRX figures a month ago, leading some analysts to say that while private property prices have not yet recovered, they have begun to stabilise as sellers hold back.

2. Euro zone guessing game to intensify

The guessing game over the timing of euro zone money printing will intensify as the European Central Bank unveils a closely watched gauge of policy, Reuters notes. This will come on Thursday when the ECB announces the next round of ultra-cheap loans to banks.

Earlier on Monday in Brussels, ECB President Mario Draghi will tell euro zone finance ministers no amount of stimulus can replace reforms to tax, labour and pension systems to bring down near-record unemployment. German October industrial production data due also on Monday, is also likely to show the weakness of the region's rebound.

3. After the US jobs report

Last Friday's jobs report whowed US employers added the largest number of workers in nearly three years in November and wage gains picked up, which could push the Federal Reserve closer to raising interest rates.

Investors are now waiting for the Dec. 17 Federal Open Market Committee (FOMC) meeting but there are some data out this week including November retail sales ad producer prices for November and first look at December consumer sentiment. Fed policymaker Dennis Lockhart also speaks on Monday.

4. Abenomics at the polls

In Japan, all eyes will be on parliamentary elections on Sunday, with polls showing Prime Minister Shinzo Abe's ruling Liberal Democratic Party poised for a landslide victory.

Mr Abe's decision to call for a snap election two years early is seen as a referendum not only only on his decision to delay a sales-tax increase but on Abenomics as a whole, his attempt to reflate the economy after nearly two decades of deflation.

5. More China data

Chinese data this week will give the latest snapshot of the slowing pace of the world's second largest economy following November's rate cut. November trade figures out on Monday will show how exports have fared after slowing in October and could prompt Beijing to roll out more stimulus measures. There is also consumer and factory inflation data on Wednesday.