Central Banks and U.S. Data Take Center Stage in Mid‑December Trading

The Week Ahead: Week of 8th December 2025 (GMT+3)

Weekly Market Preview
Markets face a pivotal week as multiple central banks unveil policy decisions while the U.S. delivers core inflation and labor-market data that could define expectations for year-end monetary policy. The Reserve Bank of Australia kicks things off with its rate decision on Tuesday, with the market closely watching commentary for clues on 2026 tightening. The U.S. releases JOLTS Job Openings and conducts a 10-year Treasury auction, providing insight into labor demand and government borrowing costs.

Mid-week, investors will focus on CPI and Core CPI releases, followed by the Bank of Canada’s rate decision and the Fed’s widely anticipated interest rate decision and press conference, with economic projections adding further guidance. These releases are expected to influence USD strength, Treasury yields, and risk sentiment.

Later in the week, Switzerland’s SNB rate decision, U.S. Initial Jobless Claims, and a 30-Year bond auction are set to provide additional clarity on global monetary conditions and labor market resilience. European and U.K. inflation readings on Friday may steer EUR and GBP flows as traders weigh central bank positioning against persistent inflationary pressures.

Key Events to Watch:

Monday, December 8 – 02:50
JPY GDP (QoQ) (Q3)
Actual: -0.4% | Forecast: -0.4% | Previous: -0.4%
Japan’s economy continues to show mild contraction. Persistent weakness may temper expectations for Bank of Japan tightening, supporting the JPY as a safe-haven amid global risk-on sentiment. Traders will also weigh geopolitical developments, including Trump’s ongoing trade/tariff policies and potential U.S. export restrictions on tech, which could impact Japanese exporters and global supply chains, indirectly influencing JPY flows.

Tuesday, December 9 – 06:30
RBA Interest Rate Decision (Dec)
Previous: 3.60% | Forecast: N/A | Actual: N/A
Markets will scrutinize RBA guidance for 2026. Hawkish commentary may bolster AUD and risk sentiment, while dovish tones could dampen global risk appetite. Investors may also compare RBA signals with U.S. monetary trends, where Fed rate-cut bets and Trump-related policy uncertainty could amplify volatility across FX and commodities.

Tuesday, December 9 – 18:00
JOLTS Job Openings (Sep)
Previous: 7.227M | Forecast: N/A | Actual: N/A
As a key labor-market gauge, a decline in openings could reinforce expectations for Fed easing and weaken the USD, while a rise may strengthen wage pressure concerns, supporting the dollar. Market participants will also monitor commentary on the Fed-chair selection, as Trump’s pending pick could shift monetary expectations and risk sentiment in tandem with labor data.

Tuesday, December 9 – 21:00
U.S. 10-Year Note Auction
Previous: 4.074% | Forecast: N/A | Actual: N/A
Treasury demand provides a window into investor risk appetite and confidence in U.S. debt. Strong bids could weigh on yields and support equities, while weaker demand may push yields higher. Traders may also interpret auction results in light of Trump’s ongoing trade/tariff developments and potential impact on U.S. fiscal policy.

Wednesday, December 10 – 16:30
U.S. CPI / Core CPI (Oct)
CPI (MoM): 0.3% | Core CPI (MoM): 0.2% | CPI (YoY): 3.0%
Inflation readings are crucial for the Fed’s rate-path outlook. Strong prints could delay rate cuts, lifting USD and pressuring equities and gold; softer data may accelerate easing expectations, boosting risk assets. Markets will also consider how Trump’s Fed-chair pick and trade policy ambiguity might interact with inflation expectations, potentially amplifying volatility.

Wednesday, December 10 – 17:45
BoC Interest Rate Decision
Previous: 2.25% | Forecast: N/A | Actual: N/A
Investors will gauge whether the Bank of Canada signals further tightening or adopts a wait-and-see stance. Hawkish tones could support CAD and Canadian bonds, while dovish commentary may weaken the currency. These moves will be interpreted relative to global central bank trends, including the Fed, RBA, and SNB, as well as risk-on sentiment shaped by Trump-related policy and geopolitical headlines.

Wednesday, December 10 – 22:00
FOMC Economic Projections & Fed Interest Rate Decision
Previous: 4.00% | Forecast: N/A | Actual: N/A
The Fed’s decision and projections are the week’s focal point. A dovish tilt may weigh on USD, lift equities, gold, and risk assets; hawkish surprises could reverse risk-on flows. Markets are also watching for any guidance on 2026 policy shifts, particularly given uncertainty around Trump’s pending Fed-chair selection and the impact of potential trade or regulatory moves.

Wednesday, December 10 – 22:30
FOMC Press Conference
Chair commentary will be parsed for 2026 rate paths, inflation guidance, and labor-market assessment. Investors will closely monitor dovish vs. hawkish signals in the context of U.S. political uncertainty, trade/tariff risks, and global market positioning, as these could drive broad FX, commodity, equity, and crypto reactions.

Thursday, December 11 – 11:30
SNB Interest Rate Decision (Q4)
Previous: 0.00% | Forecast: N/A | Actual: N/A
Markets will assess whether the SNB maintains accommodative policy. Any deviation could impact CHF, European yields, and risk sentiment, particularly in a week dominated by major U.S. releases and central bank decisions.

Thursday, December 11 – 16:30
U.S. Initial Jobless Claims
Previous: N/A | Forecast: N/A | Actual: N/A
Rising claims may reinforce expectations for Fed easing, supporting gold, silver, and equities. Conversely, stability or decline in claims would favor USD strength. Traders may also consider potential fiscal and trade-policy implications from Trump’s ongoing announcements.

Thursday, December 11 – 20:00
U.S. 30-Year Bond Auction
Previous: 4.694% | Forecast: N/A | Actual: N/A
Investor appetite signals confidence in long-term debt. Strong demand could compress yields, support equities, and reduce FX volatility; weak demand may push yields higher. Trump-driven fiscal and tariff policy headlines could influence market interpretation of auction results.

Friday, December 12 – 10:00
GBP GDP (MoM) (Oct)
Previous: -0.1% | Forecast: N/A | Actual: N/A
A soft reading may pressure GBP and weigh on UK equities; stronger growth could improve risk sentiment. Investors will also weigh implications of global monetary trends, U.S. inflation data, and trade/policy uncertainty in shaping GBP flows.

Friday, December 12 – 10:00
German CPI (MoM) (Nov)
Previous: -0.2% | Forecast: N/A | Actual: N/A
Eurozone inflation updates may steer ECB expectations, influencing EUR and regional bonds. The readings will also be monitored against global macro conditions, including risk-on/risk-off sentiment from U.S. central bank actions and Trump-related trade/policy news.