Sydney:12/24 22:26:56

Tokyo:12/24 22:26:56

Hong Kong:12/24 22:26:56

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London:12/24 22:26:56

New York:12/24 22:26:56

2025-12-18 Thursday

2025-12-19

17:04:11

[Policy Remains Unchanged, Hawkish Sentiment Remains Strong, Market Nervous Awaits Dovish Shift] ⑴ On Tuesday, the Norwegian central bank announced it would maintain its policy rate at 4%, in line with market expectations. ⑵ The central bank explicitly stated it was in no hurry to lower the policy rate, noting that if rates were lowered too quickly, inflation could remain above target for an extended period. ⑶ The central bank noted uncertainty surrounding the economic outlook, but stated that if the economy develops broadly as currently expected, the policy rate will be gradually lowered over the next year. ⑷ In assessing risks, the Norwegian central bank's Monetary Policy Committee specifically pointed out that the unpredictable international cooperation and trade environment is creating uncertainty for global and Norwegian inflation and growth prospects. ⑸ The Committee judged that maintaining the current interest rate at the current meeting was appropriate, but still expects a cautious normalization of the policy rate over the next few years. ⑹ The central bank stated that its interest rate outlook has remained largely unchanged since the September report, reinforcing its signal of a patient and data-dependent policy stance. (7) This series of statements highlights the central bank’s prudent attitude in dealing with inflation and growth risks. The short-term interest rate path has been anchored, and market expectations for rapid interest rate cuts may be revised.

17:03:19

The central bank of Norway's interest rate decision on December 18th

Previous : 4% Forecast : 4%

Published Value 4%

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17:01:18

LME Daily inventory changes in the UK on December 18th - Lead

Previous : -2875 Forecast : -

Published Value -3450

Previous

17:01:02

LME Daily inventory changes in the UK on December 18th - Copper

Previous : 325 Forecast : -

Published Value -2650

Previous

17:00:53

LME Daily Inventory changes in the UK on December 18th - Tin

Previous : 375 Forecast : -

Published Value 235

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17:00:45

LME Daily inventory changes in the UK on December 18th - Zinc

Previous : 2150 Forecast : -

Published Value 1700

Previous

17:00:38

LME Daily inventory changes in the UK on December 18th - Nickel

Previous : 690 Forecast : -

Published Value -60

Previous

17:00:28

LME Daily inventory changes in the UK on December 18th - Cobalt

Previous : 0 Forecast : -

Published Value 0

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17:00:26

LME Daily inventory changes in the UK on December 18th - Primary aluminum

Previous : 0 Forecast : -

Published Value 0

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17:00:24

LME Daily inventory changes in the UK on December 18th - Main NASAAC aluminum alloys

Previous : 0 Forecast : -

Published Value 0

Previous

17:00:23

LME Daily inventory changes in the UK on December 18th - Aluminum Alloy

Previous : 0 Forecast : -

Published Value 0

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16:43:37

[US Market Focuses on CPI Data; Market Reaction May Be Volatile Again] ⑴ The latest Consumer Price Index (CPI) report will be released during the US session. The market expects the overall CPI year-on-year rate to be 3.1%, and the month-on-month rate to be 0.3%; the core CPI year-on-year rate is expected to be 3.0%, and the month-on-month rate to be 0.3%. ⑵ Due to data issues caused by the government shutdown in October, the market consensus is that this report may trigger a chaotic market reaction, similar to the recent non-farm payroll report. ⑶ Analysts believe the market is more likely to focus on how the data will affect the hawkish camp within the Federal Reserve. ⑷ The recent unemployment rate of 4.6% has exceeded the Fed's year-end forecast of 4.5%. Given the Fed's focus on the labor market, this is a strong signal supporting an earlier rate cut. ⑸ On the other hand, inflation data continues to be lower than the Fed's forecast, with its expectation for core personal consumption expenditures prices in 2025 at 3.0%. ⑹ Therefore, if today's CPI data meets or falls short of expectations, the market may tend to interpret it more dovishly. (7) The market might even believe that weaker data will positively influence hawkish committee members, making them more likely to support an earlier-than-expected rate cut. (8) Conversely, if the data is stronger than expected, it may dampen market sentiment in the short term, but the overall picture may not change significantly.

16:37:16

Taiwan's M2 annual rate of money supply in November

Previous : 5.04% Forecast : -

Published Value 5.11%

Previous

16:33:40

[With Interest Rate Cuts Nearing Their End, Markets Bet on Central Bank Roadmap; Where Lies the Disagreements?] ⑴ On Tuesday, the Swedish central bank released its latest policy rate forecast, indicating that it expects the key interest rate to remain stable at 1.75% in the first three quarters of 2026, consistent with previous forecasts. ⑵ According to its outlook, the average interest rate in the fourth quarter of 2026 is expected to be 1.77%, unchanged from previous forecasts, while the forecasts for the fourth quarters of 2027 and 2028 are 1.94% and 2.12%, respectively. ⑶ Notably, the Swedish central bank's forecast for the end of 2027 is slightly higher than the previous forecast of 1.92%, a slight upward revision suggesting a subtle adjustment in policymakers' assessment of the long-term interest rate path. ⑷ This series of data suggests that the widely anticipated interest rate cut cycle may be nearing its end, and the future policy path will be smoother and more uncertain. ⑸ For traders, the focus has shifted from "when to cut rates" to "what will the final interest rate be," and even small differences in central bank forecasts could trigger a repricing of market expectations for long-term liquidity. (6) In the future, we need to pay close attention to similar long-term forecasts from other major central banks, such as the European Central Bank or the Federal Reserve. Any signals of synchronization or divergence will be key to influencing global asset rotation.

16:31:44

Taiwan's M2 broad money supply in November, China

Previous : 667255 Forecast : -

Published Value 667617

Previous

16:30:44

Discount rate in Taiwan, China for the fourth quarter - unadjusted seasonally

Previous : 2% Forecast : 2%

Neutral

Published Value 2%

Previous

16:30:09

Sweden's central bank policy interest rate will come into effect on December 18th

Previous : 1.75% Forecast : 1.75%

Neutral

Published Value 1.75%

Previous

16:01:59

Singapore's total fuel inventory for the week ending December 17

Previous : 4941.30 Forecast : -

Published Value 4814.50

Previous

16:01:09

The remaining oil inventory in Singapore as of the week ending December 17

Previous : 2606.20 Forecast : -

Published Value 2465.80

Previous

16:00:53

Singapore's intermediate distillate fuel inventories for the week ended December 17

Previous : 836 Forecast : -

Published Value 843.10

Previous

16:00:41

Singapore's light distillate fuel inventories for the week ended December 17

Previous : 1499.10 Forecast : -

Published Value 1505.60

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15:53:19

France's Insee Production Outlook Index for December

Previous : -32 Forecast : -

Published Value -7

Previous

15:45:02

The INSEE Overall Business Sentiment Index for France in December

Previous : 98 Forecast : -

Published Value 99

Previous

15:45:01

The INSEE Manufacturing Business Sentiment Index for France in December

Previous : 98 Forecast : 98

Published Value 102

Previous

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