A clear look at the key market themes shaping the week ahead, covering forex, stocks, crypto and commodities in one concise outlook.
FX Trust Score Weekly Market Outlook
Week Ahead: 1-5 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
Last week, markets ended quietly with most major currencies staying within familiar ranges and equity sentiment improving in late trading. The dollar eased back after a patchy run of economic figures and the euro and pound found modest support from steadier risk appetite.
In terms of Equity markets, US indices picked up towards the end of the week, helped by a lift in technology and consumer shares. Commodities were mixed; gold drifted slightly lower but remains well supported, whilst oil prices steadied after several sessions of uneven trading. Overall, it was a week shaped more by expectation than action as traders waited for clearer signals from central banks and incoming economic data.
Forex Focus
The dollar enters the new week on the back foot as traders weigh the chance of softer US data. Any disappointment in inflation or spending figures could add pressure to the greenback. The euro starts the week with a steadier tone, but enthusiasm remains limited until the European Central Bank offers clearer direction on growth and rate expectations. Sterling continues to sit in a tight band, with UK data likely to determine its next move.
For the yen, the question remains whether recent stabilisation can hold. The market still expects the Bank of Japan to tread cautiously, though any hint of firmer inflation pressure could revive speculation about a shift in tone.
Equities Snapshot
Tech remains a strong headline as investors watch to see whether recent momentum continues. US futures at the start of the week suggest another firm showing from the sector, with traders still favouring companies tied to AI demand.
Tesla, Nvidia, Apple and Microsoft are likely to stay in focus as the market looks for guidance from large-cap leaders. European stocks are steady but lacking spark, with investors still wary about slower growth indicators coming from the region.
Commodities Watch
Gold begins the week with a firm floor. Safe-haven demand continues to underpin the metal, even as short-term pullbacks appear now and then. The direction of the dollar is likely to determine how far gold can push in the coming sessions.
Oil remains rangebound. Questions around global demand persist, but supply developments are preventing steeper declines. Traders will be watching inventory data and comments from key OPEC members for signs of a shift.
Crypto Market Update
Bitcoin starts the week stable after losing some momentum late last week. Traders appear more cautious, but interest remains high as markets look ahead to regulatory updates and any fresh signals from institutional adoption.
Ethereum also trades steadily, with most major altcoins moving in narrow ranges. The main driver for the week may be broader risk sentiment and any announcements from regulators in the US or Asia.
What to Watch This Week
Key areas likely to shape the week include:
- US inflation and spending figures
- UK employment and CPI data
- Eurozone sentiment indicators
- Central bank commentary from US, UK and Japan
- Tech market performance and any fresh corporate updates
- Developments around OPEC guidance
Trader’s Takeaway
It’s a data-heavy week and markets may see sharper moves if key numbers surprise. A softer US picture could weaken the dollar and support risk assets and stronger results may bring a more defensive tone. Expect a mix of opportunity and volatility as traders position for the final stretch of the month.
We publish the latest news and FX Trust Score Weekly Market Outlooks in our dedicated Market News section.
