Market Insider

Why markets see next week as among most important of year

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Even in a Thanksgiving holiday lull, financial markets are gearing up for a week of drama.

"Next week could be one of the most important weeks of the whole year," said Marc Chandler, head of foreign exchange strategy at Brown Brothers Harriman. While U.S markets were closed for the Thanksgiving holiday Thursday, stocks were mixed Friday morning on extreme light volume in a shortened session. The market focus is already on the coming week, and for investors worldwide, it's a busy one.

First on Monday, the IMF is expected to grant China's yuan reserve currency status. The yuan would be included in the fund's Special Drawing Rights basket which, while largely symbolic, would elevate the currency and China's influence in the global economy.