WEEKLY MARKET REVIEW − December 12-16 2016 The Upcoming FOMC Meeting will be this week’s most impactful event. Forex GBP/USD, Daily Almost all of the major currencies dropped against the US dollar, with the exception being the Canadian dollar as it reacted to the oil market. Last week’s main event was the Italian constitutional referendum, which caused the EUR to fall. Additionally, the ECB’s decision to keep the interest rates unchanged additionally impacted the currency markets. This week traders will pay attention to the US Federal Reserve meeting scheduled for December 13-14. The interest rate decision will be made public at 19:00 GMT. Additionally, the Bank of England and the Swiss National Bank will publish their interest rate decisions. Stocks USA S&P500, Daily Last week a number of US stock indexes rose thanks to positive US economic statistics. Moreover, traders are speculating that President Elect Donald Trump will introduce new budgetary stimulus measures. Furthermore rising oil prices have caused shares of energy companies to spike. However, this coming week the stock markets could come under temporary pressure if the Fed decides to raise the interest rates. Europe FTSE, Daily A number of major stock indexes in Europe grew thanks to better than expected EU economic statistics. This week the European stock markets will be impacted by the Fed, Bank of England and the Swiss National Bank’s interest rate decisions. Commodities GOLD, Daily Last week gold dropped by 30 points as the US dollar strengthened thanks to positive US economic data and the anticipation that the Fed may raise the rates at the upcoming FOMC Meeting.