Fed decision time

The US dollar has been weakening against its peers lately, “but when you look for the last five years, the dollar is still positive”, notes Deepak Puri, the Private Bank’s Chief Investment Officer for the Americas. And the dollar’s recent slip could be a reason that stocks have continued to climb. “The dollar weakness does give a boost to the S&P 500 earnings because on an aggregate basis, around 35% of earnings for S&P 500 companies are coming from the overseas markets.”

In the week ahead, “all eyes are going to be on the Fed”, Deepak says, pointing to the US central bank’s expected rate decision, data releases and commentary on Wednesday. “We want to see if there are additional rate cuts baked into the Fed's median policy statement going into 2026.”

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