England Drought Expands to 71% as Heatwave Deepens Water Crisis 
BOJ Expected to Hold Rates Steady While Signaling More Hikes Ahead 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
Gold Prices Hold Near Seven-Week High as Markets Await U.S. Inflation Data 
S&P 500, Nasdaq Futures Rise as Iran Risks and CPI Loom 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure 
Asian Stocks Rise as Weak US Jobs Data Eases Fed Rate Hike Fears 
South Korean Won Leads Asian FX Losses as Dollar Rises 
US Stock Futures Flat as Iran Strait of Hormuz Demands Fuel Oil Concerns 
Compared to last week, this week is less risk heavy due to lack of high profile events or data. However, there are few events and releases this week, which could add some serious volatility in the market.
What to watch for over the coming days:
- Central banks:
Not many central bankers are scheduled to make news this week, except for the Federal Reserve, which is set to release its November meeting minutes on Wednesday. Recent commentaries from Fed Chair Janet Yellen on last Thursday before Senate Joint Economic committee and a speech by New York Fed President Bill Dudley indicate increased possibility of a rate hike in December. The market is pricing a 100 percent chance of a rate hike in December. So the most important point to look at the minutes – Why 2 policy makers voted to hike rates at November meeting, compared to 3 in September and any hints on the future path of interest rates, beyond the December meeting.
- UK Autumn statement:
The UK’s chancellor of Exchequer Phillip Hammond will deliver the highly anticipated autumn budget statement, where the government is expected to announce some form of fiscal stimulus in response to the referendum vote in June, on Wednesday. Expect heavy volatility in pound based pairs and all other UK assets like Gilts and FTSE stocks.
