Key Market Events to Watch in the Second Week of December

From an editorial perspective, the second week of December offers one of the most globally synchronised bursts of macro activity we’ve seen this quarter. With several major central banks delivering policy decisions — and CPI data landing from China, Brazil, Russia and the UK — traders across the early London session are preparing for volatility in FX, rates and commodities.

Monday, 8 December

• Japan: Bank of Japan annual meeting begins (Day 1).
• Germany Industrial Production (October) – 02:00 ET
• US NY Fed 1-Year Inflation Expectations (November) – 11:00 ET
• Diplomacy: Macron meets with Zelensky, Starmer and Merz.

Tuesday, 9 December

• Japan: BoJ meeting continues (Day 2).
• Australia RBA Interest Rate Decision – 22:30 ET, Monday 8 Dec
• BoJ Governor Speech – 04:00 ET
• US ADP Nonfarm Employment (November) – 08:15 ET
• US JOLTS Job Openings (September) – 10:00 ET
• US WASDE Report – 11:00 ET
• EIA Short-Term Energy Outlook – 12:00 ET
• US API Crude Oil Inventories – 16:30 ET

Wednesday, 10 December

• Russia–UAE Business Forum (Dubai).
• China CPI Inflation (November) – 20:30 ET (Tuesday, 9 Dec)
• BoE Governor Speech – 05:45 ET
• ECB President Lagarde Speech – 05:55 ET
• Brazil CPI (November) – 07:00 ET
• Canada Interest Rate Decision – 09:45 ET
• US EIA Crude Oil Inventories – 10:30 ET
• Bank of Canada Press Conference – 10:30 ET
• Russia CPI Inflation – 11:00 ET
• US Federal Budget (November) – 14:00 ET
• US FOMC Meeting – 14:00 ET
• FOMC Press Conference – 14:30 ET
• Brazil Interest Rate Decision – 16:30 ET

Thursday, 11 December

• Switzerland SNB Interest Rate Decision – 03:30 ET
• IEA Monthly Oil Market Report – 04:00 ET
• SNB Press Conference – 04:00 ET
• BoE Governor Speech – 04:50 ET
• Turkey Interest Rate Decision – 06:00 ET
• OPEC Monthly Oil Market Report – 07:00–08:00 ET
• US Initial Jobless Claims – 08:30 ET
• US Natural Gas Storage (EIA) – 10:30 ET

Friday, 12 December

• UK GDP (October) – 02:00 ET
• Baker Hughes US Oil & Gas Rig Count – 13:00 ET

It’s an unusually synchronised global calendar. Traders on the desk note that yen pairs may see outsized swings given the BoJ’s ongoing debate around yield-curve settings, while the FOMC decision will anchor risk appetite into year-end. With multiple CPI readings, two major oil reports and three central-bank press conferences, liquidity conditions could tighten around peak event hours.