Major economic headlines last week

Happy New Year! Omicron continued to dominate headlines in the final week of the year, with total new COVID cases globally hitting a record high. On Tuesday, they stood at more than 1.73 million.

The US is the hardest hit, but that hasn’t dampened its job market with unemployment claims falling to 198k in December — the lowest level since 1989, and down from 206k a month earlier. US home prices also saw double digit jump, surging by 18.4% in October.

There was no notable economic news released in Australia as a result of the short week.


Economic calendar for this week

It will be a short week of trading, as the ASX was closed on Monday.


ANZ monthly job applications.

International calendar

The week will be highlighted by the OPEC meeting to be held on Tuesday (US time).

US (US time)

US crude oil inventories.
FOMC meeting minutes.

US initial jobless claims for the week.
US export and imports.

US unemployment rate for December.

EUROPE (EU time)

Business and consumer confidence for December.
EU inflation for December.
EU retail sales for November.


ASX IPO calendar for this week:

Block Inc (ASX:SQ2). This is the much anticipated secondary listing of Square (now Block)’s acquisition of Afterpay.

Greentech Metals (ASX:GRE), a mineral explorer that raised $5m at 20c.

My Foodie Box (ASX:MBX). This is an ecommerce fresh food box business founded by Pitcher Partners chairman Bryan Hughes and his wife Mai. The company raised $6m at 20c.