Macro outlook for next week: Markets tend to remain calm during the New Year’s Day holiday, but economic data may slap the Fed in the face

PANews reported on December 28 that the decline in U.S. stocks on Friday frustrated investors' expectations for the so-called "Santa Claus rebound." As the New Year's Day holiday approaches, global financial markets may also tend to remain calm in the coming week. The U.S. ISM Manufacturing Purchasing Managers Index (PMI) is likely to be the only focus of economic data next week. However, any Trump policy-related headlines may also stimulate market volatility. Here is what the market will focus on in the new week. Key points:

Monday 23:30, US December Dallas Fed Business Activity Index

Thursday 9:45, China’s Caixin Manufacturing PMI in December

At 21:30 on Thursday, the number of initial jobless claims in the United States for the week to December 28

Thursday 22:45, US December S&P Global Manufacturing PMI final value

Friday 23:00, US December ISM Manufacturing PMI

If the economic data disapproves of the Fed, the dollar's gains may subside. Next week's initial jobless claims may also become a major driver of the dollar's trend. Any data that shows that the Fed is too cautious about inflation and too optimistic about the labor market will could cause the dollar's recent rally to unravel.