Next Week Macro Outlook: Market Focused on Fed Chair Nominee, GDP Data to Test Fed Rate Cut "Success"

BlockBeats News, December 21st, next week will see the Christmas market, with the U.S. stock market closing early on Wednesday and remaining closed all day on Thursday. The market is focusing on whether Trump will announce his nomination for the Fed Chair over the Christmas period. Currently, Kevin Hassett, Director of the U.S. National Economic Council, leads by a significant margin as the next Fed Chair, with a probability of around 54%. Former Fed Governor Kevin Warsh has a nomination probability of around 21%, while Fed Governor Christopher Waller has a nomination probability of around 14%. Key macro events and data for next week are as follows:

Tuesday:

U.S. Q3 Advance GDP Annualized QoQ;

U.S. Q3 Advance Personal Consumption Expenditures QoQ;

U.S. Q3 Core PCE Price Index Annualized QoQ;

Wednesday:

Bank of Canada releases Monetary Policy Meeting Minutes;

U.S. Initial Jobless Claims up to December 20th;

Thursday:

Bank of Japan Governor Haruhiko Kuroda speaks at Japan Business Federation event;

Japan Unemployment Rate for November;

Market Holiday Reminder: Half-day market for Hong Kong Exchange on Wednesday, NYSE closes early at 02:00 (UTC+8) on December 25th, U.S. stock market closed on Thursday for Christmas.