Markets to watch this week (December 4-10)

November has proven to be one of the best months for stocks so far this year.
Has the Santa Claus Rally arrived early? We'll find out soon.
Meanwhile, over the next few days, traders will be focused on US employment data, German industrial data and interest rate decisions from the RBA and BoC.
Find out the markets to watch this week, according to the experts at XTB.
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Check out XTB's offering1) USDJPY This week, traders will be treated to a series of reports on the US labor market.
The November NFP report (Friday, 2.30pm CET) will be a key release of the week, but others also deserve note.
These include the JOLTS report (Tuesday, 16:00 CET), the ADP report (Wednesday, 14:15 CET) and the Challenger report (Thursday, 13:30 CET).
USD/JPY could be the moving pair as the third quarter Japanese GDP report will also be released this week (Thursday, 00:50 CET).
The pair has retreated from recent highs near 152.00 and the formation of a downtrend structure can be observed on the chart.
2) November 30 was the best month for European stocks since January 2023.
The decreasing probability of further monetary policy tightening is supporting the indices.
However, the economic outlook is still uncertain, as recession in Europe and no recession are both real options.
This week, data will be published on German industrial orders for October (Wednesday, 8:00 CET), on German industrial production for October (Thursday, 8:00 CET) and on the euro area third-quarter GDP report (Thursday, 11:00 CET), and these reports may shed some light on the situation.
3) AUDCAD AUD/CAD may experience some movement this week as traders are offered a rate decision from the Reserve Bank of Australia and the Bank of Canada.
The RBA will announce its decision on Tuesday at 16:30 CET, while the BoC will do so on Wednesday at 16:00 CET.
Both are expected to remain unchanged, with money markets pricing in a ~10% chance of each delivering a 25 basis point rate cut.
However, attention will be focused on developments following last week's surprisingly aggressive RBNZ meeting.
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