Weekly market news: 22 December 2025
Markets head into the final trading days before Christmas in a distinctly quieter mood. With most major economic data and central-bank decisions now behind us, attention turns to year-end positioning, thin liquidity and any last-minute geopolitical or policy headlines that could move prices.
Volumes are expected to be light, meaning markets may react more sharply than usual to even modest news.
Market snapshot this morning
- Brent crude $62.5/bbl
- WTI $58.9/bbl
- Gold $4,180/oz
- US dollar index ~98.5 (DXY)
- GBP/USD ~1.32
- EUR/USD ~1.17
Why it matters
Oil: Prices are steady as demand expectations soften into year-end, while OPEC+ supply discipline continues to underpin the market. Stable oil prices help keep inflation expectations anchored.
Gold: Bullion remains elevated as investors favour defensive assets during thin holiday trading and ongoing geopolitical uncertainty.
FX and rates: The dollar is slightly softer following December central-bank meetings, offering support to sterling and the euro. Thin liquidity can exaggerate FX moves this week.
Coming up this week
Monday 22 December
- Market reaction to last week’s data and central-bank messaging — investors finalise positions before the Christmas break.
- Limited scheduled economic releases — sentiment and flows are likely to dominate.
Tuesday 23 December
- US consumer confidence (December) — a late read on household sentiment heading into the new year.
- UK and eurozone second-tier data — unlikely to move markets significantly, but still monitored in thin conditions.
Wednesday 24 December (Christmas Eve)
- UK and European markets close early — trading volumes fall sharply.
- US markets close early — reduced liquidity increases volatility risk.
Thursday 25 December (Christmas Day)
- UK and European markets closed.
- US markets closed.
Friday 26 December (Boxing Day)
- UK markets closed.
- European markets mostly closed; limited US trading.
What you might’ve missed last week
Markets digested December’s central-bank decisions, with policymakers signalling a cautious approach to rate cuts in 2026.
Bond yields edged lower as investors positioned for slower growth and easier policy next year.
Equity markets were range-bound, reflecting low conviction and year-end positioning.
Why it matters
This week is less about new information and more about positioning. With liquidity thin and many participants stepping away, price moves can be driven by technical factors rather than fundamentals.
For long-term investors, short-term volatility around year-end is usually noise rather than signal. The focus will quickly shift to January data and the outlook for rates, growth and inflation in 2026.
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