3 markets to watch this week (18-24 December 2023)

While most of the world's major central banks announced their final decisions for 2023 last week, there is still one institution left to make the announcement: the Bank of Japan.
In addition to the BoJ's rate decision, traders will also be offered data from Canada and the United States.
Here are some markets to keep an eye on during the week of December 18 to 24, 2024, in collaboration with the experts at XTB.
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Discover the offer of XTB1) USD/JPY The monetary policy announcement by the Bank of Japan, scheduled for Tuesday at 4:00, is the main event of the week.
USD/JPY has fallen nearly 7% from its mid-November highs on hopes that the Bank of Japan is preparing to exit negative interest rates.
Expectations are high, and while the BoJ may not raise rates this week (money markets expect rates to remain unchanged), failure to provide aggressive guidance would be seen as a major disappointment.
This could lead to the JPY reversing recent movements, as the USD/JPY pair recovers.
2) US30 Even though the December FOMC rate decision is already behind us, US stock indexes could see some movement this week following a series of US macro releases.
These include housing market data for November (Tuesday, 2.30pm), the Conference Board's consumer confidence index for December (Wednesday, 4pm) and PCE data for November (Friday, 2.30pm).
The third quarter US GDP report will be released on Thursday, at 2.30pm, but it will be a revision and is unlikely to have a major impact on markets.
3) AUD/CAD AUD/CAD is one of the FX pairs that may see some movement this week, especially on Tuesday.
This is due to the release of RBA minutes (Tuesday, 1.30am) and Canadian CPI data for November (Tuesday, 2.30pm).
The release of Canadian retail sales data on Wednesday (2.30pm) and October monthly GDP report on Friday (2.30pm) could also increase the pair's volatility.
AUD/CAD has been trading mostly sideways over the past month, and traders are looking for a catalyst for a breakout.
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