A simple, Weekly Market Outlook providing a clear overview of the major market themes shaping the week ahead, covering currencies, stocks, commodities and crypto.
FX Trust Score Weekly Market Outlook
Week Ahead: 15-19 December 2025
Each week, FX Trust Score publishes a Weekly Market Outlook to help traders stay informed and prepared for the trading week ahead. The report brings together key developments across forex, equities, commodities and crypto markets, as well as insights into central bank activity. It is a trusted source, designed for clarity and relevance and provides traders with a concise overview of what is driving global markets. Here’s what traders are watching in the days ahead.
Last Week in Review
Markets ended last week with limited follow-through across most asset classes. Price action remained contained, with currencies, equities and commodities largely holding within established ranges. Trading conditions were generally orderly, with participation thinning at times as investors waited for upcoming economic releases.
The US dollar saw modest fluctuations following mixed economic data, while the euro and pound posted small gains in risk-supportive sessions. Equity markets closed slightly higher, led by technology stocks, while gold eased back after recent gains. Oil prices stabilised after earlier volatility, leaving markets largely unchanged by the end of the week.
Forex Focus
Foreign exchange markets open the week with major currency pairs near recent levels. The dollar’s direction remains closely tied to incoming US economic data, particularly inflation and consumer spending figures scheduled for later in the week. These releases may influence expectations around the future policy path.
The euro (EUR) continues to trade within a narrow range, with recent moves reflecting changes in broader risk conditions rather than region-specific developments. Sterling remains constrained ahead of UK labour market and inflation data, which may provide further guidance for short-term pricing.
The yen has remained stable in recent sessions. Interest rate differentials continue to play a dominant role, and unless there is a shift in policy communication or inflation trends, movements are likely to remain contained in the near term.
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Equities Snapshot
Equity markets begin the week with little change in overall positioning. Recent gains have been concentrated in technology stocks, while broader participation has remained limited. Investors appear focused on upcoming economic data and corporate updates before adjusting exposure.
US markets are expected to open steadily, with limited directional conviction early in the week. European markets continue to reflect mixed economic conditions, with softer business indicators weighing on sentiment. Company guidance and earnings-related commentary remain key inputs for short-term equity pricing.
Commodities Watch
Gold trades near recent levels after pulling back from earlier highs. Demand related to risk management and macro uncertainty remains evident, while near-term price movements are likely to follow changes in the dollar and government bond yields.
Oil prices remain rangebound. Market participants continue to assess global demand expectations alongside supply management from major producers. Inventory data and production-related commentary may influence short-term direction.
Crypto Market Update
Crypto markets open the week in a stable phase following recent consolidation. Bitcoin remains near recent highs, while Ethereum continues to show relative strength. Trading activity remains steady, with no clear directional bias across the broader market. Attention remains on regulatory developments, institutional participation and macroeconomic conditions. These factors continue to shape medium-term expectations and may contribute to periodic volatility.
What to Watch This Week
The week includes several scheduled data releases with potential market impact. These include US inflation, retail spending and consumer sentiment figures, UK labour market and CPI data, and eurozone activity indicators. Commentary from central banks in the US, UK and Japan will also be monitored.
In commodities, oil inventory data remains a focus, while in equities, market participants will track corporate updates, particularly from large technology companies.
Trader’s Takeaway
Market conditions look balanced heading into the week, with price action largely driven by scheduled data rather than trend-based momentum. Short-term volatility may increase around key releases, particularly in foreign exchange and equity index markets. Until clearer signals emerge, a measured approach remains appropriate with attention focused on data outcomes and cross-market reactions rather than directional assumptions.
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