This week the global highlight will be the November CPI report in the US on Wednesday. This will be closely watched as investors look ahead to the final Federal Reserve meeting of the year next week, where the central bank is expected to reduce interest rates another 0.25 per cent. Markets will also be watching the latest inflation and trade data in China, monthly GDP in the UK and central bank decisions in Australia, Canada, Europe and Switzerland. On the local front, we'll get some further GDP partials ahead of the September quarter GDP report, which is scheduled for release late next week. A housing market update is due from the Real Estate Institute, while we'll also see the latest monthly migration figures.