Markets week ahead: Nasdaq 100, S&P 500, US dollar, British pound, euro, gold

This week’s economic calendar is packed full of a wide range of market-moving economic releases that will help position the market ahead of the mid-December slew of global monetary policy decisions. Coming up, amongst others, we have German inflation and jobs, Canadian and Swiss Q3 GDP numbers, Euro Area inflation, speeches by Fed chair Jerome Powell and the Bank of Japan’s Kuroda, Canadian employment, and the closely watched US core PCE and the Non-Farm Payroll release.

Last week’s holiday-shortened market was dominated by further US dollar weakness after the FOMC minutes revealed that a majority of members thought that a slowing in the pace of rate increases may be appropriate. Just a nod by the Fed that it may be taking its foot off the accelerator sent the US dollar lower and gave a range of risk markets a push higher.

The market is now expecting a 50 basis point rate hike at the mid-December FOMC meeting.

This information has been prepared by DailyFX, the partner site of IG offering leading forex news and analysis. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.