As 2015 winds down, trading volumes continue to fall as investors take profits and close out positions in anticipation of the beginning of 2016. The main event driving market direction and momentum was the most recent Federal Reserve interest rate decision which saw a more hawkish outlook for interest rates. Although just the first rate hike, the FOMC is expected to raise rates additionally in the coming year, adding to upward momentum in the US dollar while Central Banks of other advanced economies watch to see the impact. After suffering from profit-taking, the US dollar began to rebound against major peers with US equity benchmarks retreating from gains after the announcement and likely to continue trending lower over time. Other Central Banks chose to hold off from adjusting interest rates with the Bank of Japan and Norges Bank leaving the key rates on hold at 0.10% and 0.75% respectively. In a growing sign of recovery, consumer price inflation in both the Euro Area and United Kingdom surprisingly rose back into positive territory as accommodative monetary policies bear fruit.