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Macro Outlook for Next Week: Market Focuses on Fed Chair Nominee, GDP Data to Evaluate Fed Rate Cut Results
Summary: Looking ahead to next week, the Christmas market is approaching, with the US stock market closing early on Wednesday and remaining closed all day Thursday. The market is focused on whether Trump will announce the nominee for the Fed chair during the Christmas period. Currently, Kevin Hassett, Director of the US National Economic Council, leads ...
Looking ahead to next week, the Christmas market is approaching, with the US stock market closing early on Wednesday and remaining closed all day Thursday. The market is focused on whether Trump will announce the nominee for the Fed chair during the Christmas period. Currently, Kevin Hassett, Director of the US National Economic Council, leads with a probability of around 54% to become the next Fed chair, while former Fed Governor Kevin Warsh has a nomination probability of around 21%, and Fed Governor Christopher Waller has a nomination probability of around 14%. Important macro events and data for next week include:
Tuesday:
Initial estimate of US Q3 real GDP annualized rate;
Initial estimate of US Q3 real personal consumption expenditures rate;
Initial estimate of US Q3 core PCE price index annualized rate;
Wednesday:
Release of monetary policy meeting minutes by the Bank of Canada;
US initial jobless claims up to December 20th;
Thursday:
Speech by Bank of Japan Governor Haruhiko Kuroda at the Japan Business Federation;
Japan's unemployment rate for November;
Market closure reminder: Half-day market for the Hong Kong Stock Exchange on Wednesday, NYSE closes early at 02:00 on the 25th Beijing time; US stock market closed on Thursday for Christmas.
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Link: Macro Outlook for Next Week: Market Focuses on Fed Chair Nominee, GDP Data to Evaluate Fed Rate Cut Results [Copy]
