This week's macro outlook: Market focuses on Fed chair nominee candidates, GDP data tests the "results" of interest rate cuts.

On December 21, this week welcomes the Christmas market, the US stock market will close early on Wednesday and will be closed all day on Thursday. The market is focused on whether Trump will announce the Fed chair nomination during the Christmas period. Currently, Kevin Hasset, the Director of the National Economic Council, has a significantly higher probability of becoming the next Fed chair at about 54%, while Kevin Warsh, a former Fed governor, has a nomination probability of about 21%, and Christopher Waller, a Fed governor, has a nomination probability of about 14%. The important macro events and data for this week are as follows:

Tuesday:
U.S. Q3 real GDP annualized quarterly rate preliminary value;
Preliminary value of the U.S. third quarter real personal consumption expenditures quarter-on-quarter.
U.S. Q3 Core PCE Price Index Annualized Quarterly Rate Preliminary;

Wednesday:
The Bank of Canada has released the minutes of the monetary policy meeting;
Initial jobless claims in the U.S. for the week ending December 20;

Thursday:
Bank of Japan Governor Kazuo Ueda gave a speech at the Japan Business Federation.
Japan's unemployment rate in November;

Market Reminder: The Hong Kong Stock Exchange will have a half-day session on Wednesday, and the New York Stock Exchange will close early at 02:00 Beijing time on the 25th; the US stock market will be closed on Thursday for Christmas. #比特币