Led by Wall Street, global equity markets continued to enjoy one of their best starts in eight years.

As trading winds down ahead of Christmas and New Year, volatility in the financial markets are likely to dwindle over the coming week and a half.

A sense of caution was felt across financial markets during Thursday’s trading session as concerns surrounding the progress of U.S. tax reforms resurfaced.

The U.S. dollar ended higher for the fifth consecutive day on Tuesday ahead of key fundamental events from the world’s largest economy over the next 30 hours or so.

But is it Mr. Claus or someone else? This year is a bit different in the context of just how upbeat the equities outlook has become.

There isn’t much drama for the Fed, they are expected to raise rates, yawn. But the fireworks are in this election because if Moore loses, it narrows the GOP slim edge.

The U.S. dollar appreciated during the week as the tax reform inched closer to reality. Fundamental data in the U.S. was positive for the currency but hourly wages again disappointed by coming below expectations. Given the importance of inflation indicators inside the Fed stagnant wages could make it hard on the U.S. central bank to keep raising rates in 2018.