Economic Events and Corporate Reports - December 10, 2025

Detailed Overview of Economic Events and Corporate Reports for December 10, 2025. FOMC Meeting, Bank of Canada Decision, Inflation Data from China, Russia, and Brazil; Speeches by the Governor of the Bank of England and the ECB President; EIA Oil Inventories; as well as Earnings Reports from U.S., Europe, Asia, and Russia.

Wednesday offers a busy agenda for investors: in Asia, the key release is the Consumer Price Index (CPI) for China, which is expected to confirm weak price pressure and likely maintain an accommodative policy from the People’s Bank of China; in the Middle East, attention is drawn to the inaugural Russia-Emirates Business Forum in Dubai, highlighting the strengthening of bilateral partnerships; in Europe, market participants are closely watching the speeches of Bank of England Governor Andrew Bailey and ECB President Christine Lagarde for new signals on monetary policy. The main event of the day will be the FOMC meeting in the U.S. — its outcomes will set the tone for stock indices and currencies.

Complementing the picture are the Bank of Canada's interest rate decision, the release of November inflation data for Brazil (followed by a late meeting of the Central Bank of Brazil), and the U.S. Energy Information Administration’s (EIA) statistics on oil inventories. On the corporate front, there will be a series of earnings reports: in the U.S., financial results will be released by tech leaders (Oracle, Adobe, etc.) along with a number of companies from the retail and industrial sectors; in Europe, key releases include those from tourism holding TUI and retailer Metro; in Asia, semiconductor manufacturers (for example, TSMC) will publish trading updates; and in Russia, Aeroflot will report its results for the first nine months. It is crucial for investors to assess these events in aggregate: signals from central banks ↔ bond yields ↔ currency rates ↔ commodity prices ↔ risk appetite in the markets.

Macroeconomic Calendar (EST)

1. All Day — UAE/Russia: First Russia-Emirates Business Forum (Dubai).
2. 04:30 — China: Consumer Price Index (CPI) for November.
3. 13:45 — United Kingdom: Speech by Bank of England Governor Andrew Bailey.
4. 13:55 — Eurozone: Speech by ECB President Christine Lagarde.
5. 15:00 — Brazil: Consumer Price Index (CPI) for November.
6. 17:45 — Canada: Bank of Canada Interest Rate Decision.
7. 18:30 — U.S.: EIA Oil Inventories (weekly statistics).
8. 18:30 — Canada: Bank of Canada Press Conference after the Meeting.
9. 19:00 — Russia: Inflation Rate (CPI, preliminary data for November, y/y).
10. 22:00 — U.S.: Federal Budget for November.
11. 22:00 — U.S.: FOMC Meeting (final decision on the Fed rate).
12. 22:30 — U.S.: Press Conference of Fed Chairman Jerome Powell.
13. 00:30 (Thu) — Brazil: Central Bank Interest Rate Decision.

Geopolitics: Russia-Emirates Business Forum

• Dubai is hosting the first Russia-Emirates Business Forum aimed at enhancing economic partnership between the Russian Federation and the UAE. The event features over 200 delegates, including representatives from major companies, investment funds, tech startups, and logistics operators from both countries. The forum takes place against the backdrop of increasing trade volume and investments between Russia and the Emirates, potentially leading to the signing of new agreements in industries such as manufacturing, energy, transportation, and more.

China: CPI Index and PBOC Policy

• Inflation in the PRC is expected to remain around 0% y/y in November, reflecting weak consumer demand and deflationary pressure. The lack of price growth, combined with a recent drop in Producer Price Index (PPI), intensifies expectations that the People's Bank of China will maintain an accommodative monetary policy to support the economy. Any signs of inflation recovery could lessen the need for new stimulus measures; however, current indicators suggest that continued easing (low rates, liquidity injections) is necessary to stimulate domestic demand.

Europe: Signals from the Bank of England and ECB

• Bank of England Governor Andrew Bailey and ECB President Christine Lagarde will deliver speeches which investors will carefully analyze for indications of future rate plans. In the UK, inflation remains above the target level, yet an economic slowdown may compel the BoE to adopt a wait-and-see approach, hinting at a possible rate cut in 2026. Lagarde is likely to reaffirm the ECB's commitment to the 2% target and a cautious stance: as growth in the Eurozone wanes, the regulator may signal a prolonged pause in rate hikes. Any hints of a tonal shift (more “dovish” or “hawkish”) could impact EUR and GBP rates, along with European bond markets.

U.S. and Canada: FOMC Meeting and Bank of Canada Decision

• The Federal Reserve is holding its last FOMC meeting of the year. Markets widely anticipate a 0.25% rate cut (to a range of ~5.00–5.25%) amid slowing inflation and signs of a weakening labor market. Investors will focus on the rhetoric of Fed Chairman Jerome Powell: evaluations of inflation risks and hints at policy trajectory in 2026 are crucial. A more dovish tone (a readiness for further easing) could weaken the dollar and support stock growth, while maintaining caution (hawkish tones regarding inflation) might trigger short-term volatility and higher bond yields.
• The Bank of Canada will announce its rate decision: the regulator is expected to maintain the rate (current level around 2.25%) after a year of cuts. The slowdown in economic growth and inflation nearing the target allow the Central Bank to pause in its easing policy. Participants in the market are looking for signals regarding future plans in the accompanying statement — for example, the willingness to resume rate cuts in case of a deeper economic slump. The Canadian dollar and bond market will react to the communication tone: a neutral message will reinforce existing expectations, while an unexpectedly dovish stance (hinting at future stimuli) could lead to further decreases in yields and a weaker currency.

Emerging Markets: Inflation in Russia and Brazil's Central Bank Decision

• In Russia, preliminary inflation estimates for November are expected to show a year-on-year price increase of around 6%, exceeding the Central Bank of Russia's (CBR) target of 4%. Despite some slowdown from autumn peaks, inflationary pressure remains significant due to the weakening ruble and budgetary spending. The November data is important for understanding year-end price dynamics: if inflation does not ease, the Bank of Russia may likely maintain a tough rhetoric and high rates at the upcoming meeting. For the ruble, persistently high inflation indicates limited room for rate cuts, which may require the regulator to keep tight monetary conditions longer.
• In Brazil, November CPI is expected to be below 5% y/y, continuing the trend of slowing price growth due to previous tightening measures. Amid declining inflation, Brazil's Central Bank (Copom) is likely to reduce the base rate (current level around 9.25%) in a night meeting to support the economy. Markets expect a reduction of around 0.50%, making the regulator's comments about next steps crucial. Continuing the easing cycle in Brazil will support the local equity market and bonds, but may create some pressure on the real.

Oil Market: EIA Inventories

• The weekly EIA report on commercial oil inventories in the U.S. will provide fresh insights into the balance of demand and supply in the energy market. In recent weeks, inventory reductions were noted against the backdrop of revived demand and supply constraints from OPEC+, supporting oil prices. If the data again show a significant inventory drawdown, oil prices may receive an additional upward impetus (intensifying inflationary expectations globally). Conversely, an unexpected increase in inventories could cool the rally in the oil market. Traders and investors in the commodity sector will closely monitor this indicator as the year comes to an end, when demand for fuel is subject to seasonal fluctuations.

Corporate Reports: Pre-Market (BMO, U.S. and Asia)

• Chewy (CHWY) — an American online retailer of pet products, will report before the market opens. Focus areas include revenue and customer base growth in Q3, as well as trends in average transaction value and e-commerce margin given the high competition. Previous results from Chewy showed double-digit sales growth (~9% y/y) and improved profitability; the market needs to see the continuation of this trend and hear management's forecast for the holiday season. Strong metrics may support the company’s stock and the online retail sector, while a slowdown in revenue growth or worsened guidance may heighten investor caution.

Corporate Reports: After Market Close (AMC, U.S.)

• Oracle (ORCL) — a leading provider of enterprise software and cloud services, will report for Q2 of the fiscal 2026 after the U.S. market closes. Investors are particularly interested in the dynamics of Oracle's cloud business (OCI — Oracle Cloud Infrastructure) and software solutions sales for enterprises. The company is banking on growth in demand stemming from AI projects and the expansion of its cloud portfolio. If the report confirms high growth rates for cloud services and profitability, stocks of Oracle and other tech giants may gain momentum. Weak results or cautious guidance could trigger a correction, considering the recent rise in tech sector stocks.
• Adobe (ADBE) — a leader in software (Creative Cloud, marketing solutions) will present results for Q4 of the fiscal 2025. Key metrics to watch include subscription revenue growth from cloud services (Creative Cloud, Document Cloud) and trends in the digital marketing segment. Amid the development of generative AI technologies, investors also await comments on the implementation of AI tools in Adobe’s products and their impact on customer acquisition. Strong revenue growth and optimistic guidance will strengthen confidence in Adobe’s business model sustainability, while slowing demand from corporate clients may raise concerns about high company valuations.
• Synopsys (SNPS) — a developer of software for chip design, will report its fiscal results for 2025. The semiconductor sector is currently experiencing heightened demand for chips used in AI and automotive electronics, supporting Synopsys's order portfolio. Investors will evaluate revenue and profit growth, as well as new contracts with chip manufacturers. Solid performance from Synopsys will confirm that companies in the sector are actively investing in R&D despite macro uncertainty, which is positive for the entire tech segment. Conversely, weak results may elicit negative reactions, given high expectations from the IT sector.
• Nordson (NDSN) — an industrial engineering company (dosing and coating systems) will report for Q4 of 2025. Nordson’s results will serve as a barometer for demand in the manufacturing industry: its equipment is used in the production of goods, packaging, and electronics. Analysts expect stable revenue or slight declines amid a global industrial slowdown, yet improvements in operational efficiency may sustain margins. If profit exceeds forecasts due to cost-cutting measures, it will confirm the business's adaptability; however, weak sales will indicate caution among corporate clients in spending.

Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX

• Euro Stoxx 50 (Europe): Among the key European companies reporting on December 10, TUI (tourism holding) and Metro AG (retail/wholesale trade) stand out. Although these releases are interesting, the overall mood in the European markets will largely be determined by external factors — signals from the U.S. Federal Reserve and commodity price dynamics, as well as comments from the British and European central banks. A lack of surprises in corporate results and macro data will support the stability of the Euro Stoxx 50 index, while negative factors may amplify volatility.
• Nikkei 225 (Asia): In Japan, the publication of financial results from major corporations on this day is limited (the main reporting season concluded earlier), so Asian investors are focusing on external news. Nevertheless, trading updates from Taiwanese tech giants such as TSMC and MediaTek will be noteworthy as they present November data reflecting the state of global semiconductor demand. Strong metrics from TSMC (revenue growth due to demand for AI chips) will support a positive outlook in Asian markets, while weak sales dynamics may indicate ongoing cyclical risks in the industry and exert pressure on the electronics sector.
• MOEX (Russia): Among Russian issuers on December 10, Aeroflot stands out with its IFRS financial report for the first nine months of 2025. Results are expected to be influenced by the recovery in passenger traffic and changes in exchange rates. If Aeroflot reports substantial revenue and profit growth, it may improve sentiment towards the aviation sector and consumer stocks on the Moscow Exchange. Overall, activity in the Russian equity market may remain subdued in anticipation of key external events of the day (primarily the FOMC decision), which will influence the global risk appetite of investors.

Day’s Summary: What Investors Should Focus On

• 1) FOMC Decision: The outcomes of the meeting and comments from J. Powell are the main trigger of the day for all markets. FOMC results will directly affect U.S. Treasury yields, the dollar's exchange rate, and stock valuations (especially in the tech sector). Any deviation from expectations (for example, more hawkish rhetoric or an unconventional rate decision) may provoke a sharp reaction in stock indices and currency rates.
• 2) Inflation Data: CPI releases in China, Russia, and Brazil will provide signals on global price trends. Low inflation in the PRC confirms the absence of price pressure and impacts sentiment in commodity markets, while figures from Russia and Brazil will show how well these economies are containing price growth. Investors need to compare inflation trends in developed and emerging countries with the actions of their respective central banks and the prospects for interest rates.
• 3) Oil Factor: The EIA inventory statistics may shift energy prices in the short term, which will reflect on the stocks of oil and gas companies and the currencies of commodity-exporting countries (CAD, RUB). Given the influence of oil prices on overall inflation, a sudden spike or drop in oil prices after EIA data could alter market expectations regarding further regulatory policies.
• 4) Corporate Earnings: Financial results from giants like Oracle and Adobe, as well as other reporting firms, could locally shift the balance of power in specific industries. Strong reports from tech companies may turn market focus from macro statistics to corporate stories, supporting growth in the Nasdaq and related sectors. However, disappointments in reports (lower than expected profits or weak projections) may trigger sell-offs in the relevant stocks even amid a positive external backdrop.
• 5) Day Volatility: Due to the high density of events on December 10, investors should prepare for potential sharp movements in advance. It is advisable to determine key levels for their positions, use limit orders for entry/exit, and consider hedging part of the portfolio if necessary. This proactive approach to risk management will help navigate a day rich in news with greater confidence.