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Weekly Market Preview
Friday, 6th December 2024
Markets are anticipating a series of significant economic data releases and interest rate decisions from major central banks this week. Among the highlights is the US Consumer Price Index (CPI) report for November, which is expected to show an annual increase in the headline index from 2.6% in October to 2.7%, while the core index (excluding energy and food) is projected to remain steady at 3.3%.
Markets are currently assigning a 75% probability to a 25-basis-point interest rate cut by the Federal Reserve at its upcoming meeting. However, if the data falls short of expectations, investors may fully price in the rate cut, which could support US stock indices while putting downward pressure on the US dollar.
Attention also turns to interest rate decisions from the Reserve Bank of Australia, the Bank of Canada, the Swiss National Bank, and the European Central Bank. Australian rates are likely to hold steady at 4.35%, while the Bank of Canada is expected to cut rates by 50 basis points, bringing them from 3.75% to 3.25%. Similarly, the Swiss National Bank and the European Central Bank are anticipated to reduce rates by 25 basis points each.
Traders will closely analyse press conferences from central bank governors for insights into their monetary policy directions heading into 2025.
Monday, 9th December
Tuesday, 10th December
Wednesday, 11th December
Thursday, 12th December
Friday, 13th December
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