The Week Ahead

Economic Data

Investors will be keeping their eyes open for the latest rounds of economic data as government announcements are in line for this week. Thursday will see Sweden’s housing price data for November giving fresh clues as to whether the market is facing a temporary blip or the start of a retreat in prices. Anyone with a stake in Sweden’s property market should make space for Thursday in their calendar.

Wednesday will see the Federal Open Market Committee conclude its two-day meeting and announce its interest rate decision. The FOMC kept rates unchanged at its previous meeting, while pointing to solid US economic growth and a strengthening labour market. Janet Yellen will give her final post-meeting press conference as Fed chair, where she is expected to say gradual rate rises are likely to be warranted in 2018.

Brexit

Leaders from the 28 EU member states are set to approve a formal agreement over Brexit on Thursday during a much-anticipated two-day European Council summit beginning in Brussels. The European Commission will then be able to begin work on the second phase of talks with the UK, which covers the transitional exit period, trade and long-term relations with the bloc. Preparations for the summit commenced after the EU negotiator recommended that the bloc recognises that the UK has made “sufficient progress” following breakthrough talks last week on the Irish border and rights of EU citizens.

Bitcoin Futures

Three of the largest U.S. exchange companies, all overseen by the Commodity Futures Trading Commission, are debuting bitcoin futures contracts. Futures on the world’s most popular cryptocurrency surged as much as 25 percent during their debut session on Cboe Global Markets Inc.’s exchange, triggering two temporary trading halts meant to cool volatility. Cboe rivals, CME Group Inc and Nasdaq are also preparing to launch futures trading as many more people now want to trade in the bitcoin market than even a year ago. Sceptics are still around, however, including executives at some of the world’s largest banks that believe futures trading may add an opportunity to burst what they already see as a bubble.