A simple, clear look at the major market themes shaping the week ahead, covering currencies, equities, commodities and crypto in one easy-to-read overview.
FX Trust Score Weekly Market Outlook
Week Ahead: 8-12 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
Financial markets ended last week on a steady footing with currencies, equities and commodities each trading within familiar ranges. The dollar dipped mid-week after some uneven US data, whilst the euro and pound saw small gains as investors felt a bit more confident. Conditions were characterised more by caution than concern, with traders waiting for clearer direction from upcoming inflation and consumer-spending releases.
Equity sentiment was more upbeat. Tech shares helped lift major indices and improving risk appetite later in the week supported mild gains in both US and European markets. Gold edged lower but continues to benefit from firm underlying demand, whilst oil stabilised after a stretch of uneven trading.
Overall, investors appeared content to wait for catalysts that could set the pace for the remainder of December.
Forex Focus
Major FX pairs start this week near last week’s levels.
- The US dollar (USD) faces renewed pressure if incoming data signal softer growth.
- The euro (EUR) begins on firmer footing, supported by improving sentiment.
- Sterling (GBP) remains rangebound, with traders awaiting UK labour and inflation data.
The yen (JPY) remains a focal point. Whilst it is stable for now, any shift in tone from the Bank of Japan or signs of building inflation could create volatility. For the moment, interest-rate differentials continue to anchor USDJPY and keep moves contained.
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Equities Snapshot
Tech continues to steer broader equity sentiment, with the key question being whether last week’s rebound can extend. Momentum names remain the driving force behind major indices, and traders will watch closely for any corporate guidance on AI investment, demand trends and early earnings signals.
In Europe, a cautious tone is likely as softer business confidence and uneven macro indicators weigh on sentiment. US futures point to a steady start, with traders preferring to wait for this week’s data before taking on significant exposure.
Commodities Watch
Gold starts the week on a solid footing, even after recent dips. Investors are still drawn to it as a safe haven and any moves in the dollar will likely guide its direction in the short term.
Oil is steady for now, with traders weighing weak demand against tighter supply. Upcoming inventory data and comments from major producers should help shape where prices go next.
Crypto Market Update
Bitcoin enters the week in a calm but slightly subdued state after losing some momentum. Whilst enthusiasm has cooled, trading activity remains stable and sentiment is broadly neutral.
Ethereum and leading altcoins also remain rangebound, with markets awaiting regulatory developments from the US and Asia. Institutional flows continue to be an important theme, and any fresh signals from asset managers or exchanges could quickly shift sentiment.
What to Watch This Week
Key potential catalysts include:
- US: inflation, retail spending and consumer sentiment
- UK: labour market and CPI data
- Eurozone: sentiment and activity indicators
- Central bank commentary: Federal Reserve, Bank of England, Bank of Japan
- Commodities: oil and industrial metals inventory updates
- Corporate: guidance and updates from major tech companies
Trader’s Takeaway
This could be the week that breaks the recent calm. Softer US data may weaken the dollar and support risk appetite, however any upside surprises could quickly reverse that trend. We can expect pockets of volatility around data releases, especially in forex and tech-driven equity markets. A balanced, flexible approach may serve traders best as the week unfolds. Let’s see how the week progresses.
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