next week will welcome the Christmas market, with the US stock market closing early on Wednesday and closed all day on Thursday. The market is focused on whether Trump will announce the nominee for the Federal Reserve Chair during the Christmas period. Currently, Kevin Hasset, Director of the US National Economic Council, has once again taken a significant lead as the next Federal Reserve Chair nominee, with about a 54% probability. Former Federal Reserve Governor Kevin Warsh has about a 21% probability of being nominated, and Federal Reserve Governor Christopher Waller has about a 14% probability. The important macro events and data for next week are as follows.

Tuesday: US Q3 real GDP annualized quarter-on-quarter preliminary value; US Q3 real personal consumption expenditure quarter-on-quarter preliminary value; US Q3 core PCE price index annualized quarter-on-quarter preliminary value.

Wednesday: Bank of Canada releases monetary policy meeting minutes; US initial jobless claims for the week ending December 20.

Thursday: Bank of Japan Governor Kazuo Ueda delivers a speech at the Japan Business Federation; Japan November unemployment rate.

Market holiday reminder: The Hong Kong Stock Exchange has a half-day session on Wednesday; the New York Stock Exchange will close early at 02:00 Beijing time on the 25th; the US stock market is closed on Thursday for Christmas.