News Special

Markets to Watch This Week (11-17 December 2023)

This week will be the most interesting of December with rate decisions expected from the FOMC and four European central banks.
In addition to the central bank series, traders will also be treated to some high-level US macro reports and flash PMIs for December from Europe.
Find out the markets to watch this week, according to the experts at XTB.
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Discover the offer of XTB1) GOLD This week could be important for GOLD.
This is because traders will be offered rate decisions by a number of central banks.
These include FOMC (Wednesday, 8pm), Swiss National Bank (Thursday, 9.30am), Norges Bank (Thursday, 10am), Bank of England (Thursday, 1pm) and ECB (Thursday, 2pm).
None of the five banks mentioned are expected to change their rate levels.
However, since these will be quarterly and even final meetings of the year, a new set of forecasts will be offered that could set expectations for the coming year, which will be crucial for GOLD.
2) GBP/USD While the FOMC and BoE rate decisions are key events for GBPUSD traders this week, the pair may also see some movement due to the release of high-level macro data from the US and UK.
These include UK labor market data for October (Tuesday, 8am), US Consumer Price Index report for November (Tuesday, 2.30pm), UK GDP report for October (Wednesday, 8 a.m.) and U.S.
November sales report (Friday, 2.30pm).
Last week the GBP/USD pair fell from 3-month highs to the 1.2700 area.
Will US and UK data help the pair stop the decline? 3) DE30 European economies are doing worse than the US, but it is not yet certain whether they will see a recession.
Certainly, the recession cannot be seen in the stock markets with the German DAX trading at all-time highs.
Traders will get a new update on the condition of European economies this week with the release of flash PMI indexes for December on Friday.
As usual, the focus will be mainly on readings in France and Germany, scheduled for 9.15am and 9.30am respectively.
A slight improvement is expected in the manufacturing and services sectors, with the German services PMI expected to rise above 50 points.
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Author: Hermes A.I.

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