After a mixed bag of data released this week, swap traders have reduced their bets on the Federal Reserve's easing policy path. The Dow Jones Industrial Average fell 1.82% this week, the S&P 500 Index dropped 0.64%, ending a three-week streak of gains, while the Nasdaq rose 0.34%. Bitcoin has increased for seven consecutive weeks, marking the longest streak since 2021. The last significant monetary policy week of 2024 will attract investor attention. According to statistics, at least 22 central banks, accounting for two-fifths of the global economy, will set borrowing costs by the close next Friday, and the outcomes are likely to highlight that, as policymakers weigh different risks for the year ahead, the momentum for easing policies now appears increasingly unbalanced. Here are the key points the market will focus on in the new week: Monday 15:30, ECB President Lagarde will speak; Tuesday 04:45, Bank of Canada Governor Macklem will speak; Thursday 03:00, the Federal Reserve will announce the interest rate decision and economic projections summary; Thursday 03:30, Federal Reserve Chair Powell will hold a monetary policy press conference; Thursday (exact time TBD), Bank of Japan will announce the interest rate decision; Thursday 14:30, Bank of Japan Governor Ueda will hold a monetary policy press conference; Thursday 21:30, the U.S. third-quarter annualized GDP growth rate revision, U.S. third-quarter real personal consumption expenditures preliminary rate, U.S. December Philadelphia Fed manufacturing index. It is worth mentioning that the Fed's preferred core inflation measure—the Personal Consumption Expenditures Price Index (PCE)—will be released next Friday, and economists predict that the PCE for November (excluding food and energy) may rise by 0.2%, which would be the smallest increase in three months. This report will also show robust growth in consumer spending and income, indicating economic resilience.

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