A data-heavy week lies ahead for global markets heading into Christmas.
In the US, the Labor Department will release delayed nonfarm payrolls data for October and November. 2 NFPs for the price of one could spell volatility for the markets.
Markets will also focus on November CPI, which is expected to show both headline and core CPI holding at 3.2 percent, still well above the Federal Reserve’s 2 percent target.
In Mexico, the central bank will announce its monetary policy decision on Thursday. In Canada, attention will turn to the latest inflation figures.
In Europe, the European Central Bank and the Bank of England meet on Thursday. For the ECB, policymakers are widely expected to keep rates unchanged, while the Bank of England is expected to cut rates by 25 basis points. EURGBP could be a pair to generate the most volatility this week.
In Asia Pacific, focus will turn to the Bank of Japan meeting, where policymakers are expected to raise the policy rate from 0.5 percent to 0.75 percent. New Zealand will also release its third quarter GDP report.
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