Copper hits a new all-time high! Super Central Bank Week triggers a chain reaction in the market

Commodity Market Preview

Copper today surged past $11,747 per ounce, hitting a new all-time high. Market bets on the US economy’s anti-inflation policies and global supply tightness are supporting prices. Citibank even boldly predicts that copper prices will soar to $13,000 per ton in the next 12 months, with an optimistic scenario reaching $14,000 per ton. The strong copper rally has attracted a large number of commodity investors to enter the market.

Tech Stocks Pre-Market Show a Tale of Two Extremes

Before the opening of the US stock market on December 8, market sentiment was clearly divided. Dow futures fell 0.05%, S&P 500 futures were flat with a slight increase of 0.05%, and Nasdaq 100 futures rose 0.15%. Semiconductor leader NVIDIA (NVDA) declined 0.08%, while electric vehicle giant Tesla (TSLA) dropped 1.20%. In contrast, Confluent (CFLT) surged an astonishing 31.76% pre-market amid reports that IBM is in acquisition talks, making it the biggest winner today.

Weak Japanese Economy Impacts Forex Market

Japan’s Q3 GDP contracted by 0.6% quarter-over-quarter, with an annualized decline of 2.3%, both exceeding market expectations and disappointing economic performance. This increases the difficulty for the Bank of Japan to raise interest rates. The yen fluctuated accordingly, with USD/JPY slightly rising 0.07% to 155.44. Weak economic data will be an important consideration for the central bank’s policy decisions.

Crypto Market Sees Rebound Window

Bitcoin(BTC) and Ethereum(ETH) have risen for two consecutive days, showing signs of recovery. The latest real-time prices show BTC at $87,840, up 0.62% in 24 hours; ETH at $2,950, down 0.11% in 24 hours. On December 5, US spot Bitcoin ETF saw a capital inflow of $54.79 million, reversing previous net outflows, indicating that institutional funds are re-entering the market. This week’s Federal Reserve rate cut expectations are a key catalyst for the market.

Super Central Bank Week Approaches, Global Policies Unfold

Next week will be a busy period for policy decisions. On December 9, Taiwan time, the Reserve Bank of Australia will announce its rate decision first; on December 10, the Bank of Canada and Oracle(ORCL) will release quarterly reports; on December 11 at 3 a.m., the Federal Reserve will announce its rate decision, followed by the Swiss National Bank. After hours on December 11, Broadcom(AVGO) will release earnings. Central bank policy signals will directly impact global asset allocation, so market participants should closely monitor each country’s decision trends.