December marks the end of 2015 but it holds predictions for the start-to-end of 2016. Analysts have created an outlook for the year based on employment numbers, foreign exchange or currencies, auto sales and Fed's minutes.
This 2016, the first Monday of the year signified the renminbi's first day of extended hours. Renminbi, which is the official currency of China, has been trying to create an international foothold and this move in extending hours is just one of the many steps Beijing is pulling off. The extended trading until 11:30 PM local time allows the renminbi to trade into the United States business time.
Brazil on the other hand may start the year harshly. Political issues have affected the economy. Brazil currently holds $38 billion in payments on foreign and local currency bonds and debt is looming closer to the country. GDP may drop by 2% from last year's 3.5%. Though there is a threat of instability, Brazil's President Dilma Rousseff promises that the economy will be better in 2016 that financial predictions.
The US Dollar is strong and for some it is a weakness. Economists are expecting a little increase in the I.S.M index from to 49. Measures below 50 are a sign of weakness. Factories are hurting from weak overseas demand but the automotive industry seems to have found a stable spot.
Automaking companies closed 2015 with new vehicles in the United States and analysts have predicted sales of at least 1.6 million cars for December alone. The number comes from holiday promos and sales incentives alongside a very healthy decrease in gas prices.
The Federal Reserve did something different - raising the benchmark interest rate above zero. This excites many but the details of the Fed's meeting have not yet been released. Many are looking at how soon the Fed plans to raise the rate again.
Economists are expecting strong employment numbers and Wall Street estimates that employers have hired more than 200,000 people in December and have moved the unemployment rate needle just a little and full employment is foreseen, reports have indicated.
