Looking Ahead: December 10 through December 14, 2012

Five central banks met but only the Reserve Bank of Australia trimmed its key interest rate. The European Central Bank lowered its economic growth forecast. Economic data globally were mixed. Employment data in Australia, Canada and the U.S. surprised on the up side. Meanwhile the U.S. budget negotiations continued. The Federal Reserve will meet this week and update its economic forecasts. Elsewhere, flash Markit December manufacturing PMIs are scheduled. In Japan, revised third quarter GDP and the fourth quarter Tankan are among its key data releases. And as the end of the year approaches, the negotiations in Washington will continue to get heightened scrutiny.