Around 1.5 weeks after the US election results were announced, Trump's personnel decisions are likely to remain an important topic on the market. Concerns about a recent rise in bond yields could be capped by hopes of a business-friendly tax and trade policy from President-elect Donald Trump. In particular, the figures of AI giant NVIDIA are likely to be in focus in the new trading week.<\/p>\n
From the perspective of the economic data calendar, the next five trading days should be relatively quiet. Nevertheless, the after-effects of the recent US presidential election and the Fed meeting should continue to be felt.
\nFrom January 21, 2025, Republican Donald Trump will occupy the White House. A quick election result has prevented a political deadlock and thus provided a big sigh of relief.<\/p>\n
The shape of future US monetary policy is also likely to remain one of the key issues over the long term. At the beginning of November, the US Federal Reserve (Fed) lowered the key interest rate again following the interest rate turnaround in September. There are high hopes that a further interest rate cut will also be made at the final meeting of the year on December 18.<\/p>\n
Numerous Fed representatives have already had their say in the past trading week, providing corresponding monetary policy hints. Powell, for example, said that the Fed need not be in a hurry to cut interest rates as the economy is not sending any such signals. \"The strength we see in the economy right now gives us the opportunity to approach our decisions cautiously,\" he said at a Dallas Fed event last Thursday.<\/p>\n
A speech by Fed member Goolsbee (Chicago) will be in focus on Tuesday at 16:00.<\/p>\n
Investors may also be interested in the final October inflation figures from the eurozone, which will be published at 11:00. The core inflation rate is expected to come in at 2.70% (compared to the same month last year) and thus remain unchanged from September. The major monetary authorities, the ECB and the Fed, could tend to continue their cycle of interest rate cuts in the coming months.<\/p>\n
While there is less relevant data on Wednesday, the focus is likely to be all the more on Thursday with the publication of the weekly initial claims for US unemployment benefits (14:30).<\/p>\n
The Philly Fed manufacturing index will also be published at the same time. Fed member Hammack (Cleveland) will appear before the public at 14:45. Purchasing managers (S&P Global) will be in the spotlight at 15:45.<\/p>\n
Further speeches by Fed representatives will follow with Barkin (Richmond) (17:15), Goolsbee (18:25) and Hammack again (18:30).<\/p>\n
On Friday, new consumer confidence data from Reuters and the University of Michigan (16:00) are also likely to attract interest.<\/p>\n