Interestingly, this week the global market liquidity is definitely going to be light, but the trend may turn around next week. The foreign exchange and interest rate strategy team at Danske Bank sees it this way: with a series of major economic data releases, the market should pick up.

What specific data to watch? The most critical is the trend in the US labor market. On January 9th, the December non-farm payroll report will be released, which is a key indicator the market has been looking forward to. There are also ISM survey data; together, these two can provide traders with valuable insights.

Why has this week been so quiet? It's the end of the year, after all, many institutions and seasoned traders are on vacation or closing positions, so naturally, there are fewer active participants. By next week, this situation should improve. In other words, if you're waiting for some signals of market improvement, next week could be a crucial window.