The recent US presidential election results and the Federal Reserve's decision to cut interest rates have led to a significant rally in equity markets across the United States.
This positive sentiment has also had a ripple effect on global markets, with the ASX 200 in Australia experiencing a climb.
Despite the Reserve Bank of Australia maintaining its rates, there are ongoing concerns about elevated core inflation.
Several key economic indicators were released in the week leading up to these developments, including an increase in the services purchasing managers' index (PMI) and a slight uptick in initial jobless claims.
The Bank of England also cut its official bank rate, while the Bank of Japan kept its monetary policy settings unchanged.
China's economic landscape showed signs of improvement, with the services PMI rising and a surge in trade surplus.
In Australia, the RBA's decision to hold rates steady comes amid robust employment data.
Looking ahead, there are several critical economic reports set to be released, including key indicators in Australia and the consumer price index (CPI) in the United States.
Japan's Q3 GDP figures and China's house price index, industrial production, fixed asset investment, and retail sales will also be closely watched.
Additionally, major companies such as Home Depot, Cisco, and Walt Disney are set to report their financial results, providing insights into corporate performance.