FXStreet (Mumbai) - This week can be expected to be not so busy. Markets will however have their eyes out for some significant indicator scheduled to be released this week. To begin with, there is the euro zone consumer confidence index. It is not unknown that most developed economies today are led by consumer growth and services. Euro zone has been hurt by dismal prices and the ECB has initiated several easing tools lately to stabilize prices in the bloc. The consumer sentiment index is important as it will help markets understand to what extent consumers will drive economy in the coming quarters. Next most important indicator is the UK Q3GDP. The GDP growth is believed to have stagnated in the Q3 in UK. This is bad news for the economy. UK is reeling under the impact of poor wage growth and inflation. The BoE has reiterated that it is in no hurry to raise rates. The third quarter’s current account deficit data will also be out this week and will be closely watched. A slew of data will be released in the US as well just before the markets close for Christmas holidays. US core personal consumption expenditure price index and existing home sales figures will be keenly studied. Markets will also watch out for US Reuters/Michigan consumer sentiment index. In Japan, the unemployment data will be released. Japan’s year on year overall household spending in November is expected to have stagnated last month. Japan has also been struggling with stagnation concerns. Though it has held rates steady in the last 3 meetings and has sounded upbeat about the economic recovery, unimpressive indicators might force the BOJ to ease further. In the face of low global dairy prices, New Zealand’s trade balance data assumes much importance. It must be paid heed to in order to understand the impact of such low dairy prices on New Zealand’s trade. 21st December Euro zone consumer confidence- Consumer confidence for December is expected to come in at -5.9, unchanged from the previous reading. 22nd December UK Gfk consumer confidence- The Gfk consumer confidence index has stayed at 1 in December, same as November. UK public sector net borrowing- The public sector net borrowing is expected to have risen in October to £11 billion, up from £7.47 billion. US GDP price index- The gross domestic price index for Q3 is expected to have remained unchanged at 1.3 per cent. The gross domestic product annualized is also expected to have stayed the same as well at 2.1 per cent. US existing home sales- Existing home sales in November increased to 5.39 million, up from 5.36 million. New Zealand trade balance- Month on month, trade balance is believed to have come in at $809.5 million in November; while year on year, it has likely registered $-3.76 billion as against $-3.24 billion registered earlier. 23rd December UK Q3 GDP- GDP growth year on year is expected to be 2.3 per cent for Q3; while GDP growth quarter on quarter is expected to be 0.5 per cent, unchanged from previous reading. UK current account deficit Q3- The current account deficit in the third quarter will like be £-21.500 billion as against £-16.767 billion registered previously. US personal income- Person income for the month of November is expected to have dipped from 0.4 per cent to 0.2 per cent. US core personal consumption expenditure price index- The core personal consumption expenditure- price index has like increased 0.1 per cent. Personal spending in November increased 0.3 per cent from the erstwhile 0.1 per cent. US Reuters/Michigan consumer sentiment index- The index is believed to have increased in December to 92.9 from the earlier reading of 91.8. 24th December Japan unemployment rate- In November, Japan’s unemployment is believed to have increased to 3.2 compared to 3.1 recorded previously. The job/application ratio increased to 1.25 in November. Japan overall household spending- Year on year, the overall household spending is believed to have stagnated in November at --2.4 per cent. 25th December Japan housing starts- Housing starts in November moved up to 1 per cent from the erstwhile fall of – 2.5 per cent. For more information, read our latest forex news.