Week Ahead
16 - 20 December

🔹As attention shifts to the upcoming FOMC meeting (17-18 Dec), moderating inflation—albeit at a slower pace—provides the Federal Reserve with room to continue its interest rate cutting cycle.

🔹 A 0.25% rate cut at the final meeting of the year appears highly probable, though the pace of reductions may slow as the central bank aims for a soft landing.

🔹 Market expectations currently indicate a 96% likelihood of a 25-basis-point rate cut, with less than 4% anticipating rates to remain unchanged. In this context, we expect the FBMKLCI to trade within the range of 1,615 to 1,625 next week, supported by optimism surrounding the Fed’s rate cut.

🔹 This aligns with our year-end 2024 FBMKLCI target of 1,650. By say this, we expect the composite index resistance is envisaged around 1,616-1,622.

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