Next week will usher in the Christmas market. US stocks will close early on Wednesday and will be closed all day on Thursday. The market focuses on whether Trump will announce the nomination of the Federal Reserve chair during the Christmas period. At present, the probability of Kevin Hasset, director of the National Economic Council, becoming the next Federal Reserve chairperson is again significantly ahead, about 54%. The probability of former Federal Reserve Governor Kevin Warsh being nominated is about 21%. The probability of Christopher Waller being nominated is about 14%. Important macro events and data for the next week are as follows.
Tuesday: U.S. real GDP annualized quarterly rate in the third quarter; U.S. real personal consumption expenditure annualized quarterly rate in the third quarter; U.S. core PCE price index annualized quarterly rate in the third quarter.
Wednesday: Bank of Canada releases monetary policy meeting notes; U.S. jobless claims for the week to December 20.
Thursday: Bank of Japan Governor Kazuo Ueda delivers a speech at the Japan Economic Association; Japan's unemployment rate for November.
Closure reminder: On Wednesday, the Hong Kong Stock Exchange closed for half a day, and the New York Stock Exchange closed at 02:00 Beijing time on the 25th in advance; on Thursday, the US stock market was closed for Christmas.
Next week's macro outlook: the market focuses on the nomination of the Federal Reserve chairperson, GDP data tests the results of interest rate cuts
2025-12-21 03:07:10
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