CES 2023 Opens with Keynotes from Huang Renxun and Su Zifeng; Major Economic Reports Released.

Upcoming Economic Reports and Events

Next week, China will release its December CPI and PPI data, while the U.S. will unveil its December non-farm employment report. Additionally, South Korean President Lee Jae-myung will make his first visit to China, and Venezuelan President Maduro may appear in court in the U.S.

Commodity Market Movements

Commodity Index Rebalancing

The Bloomberg Commodity Index will undergo annual weight rebalancing, which may lead to significant volatility in gold and silver prices. Traders are closely monitoring this adjustment, as passive tracking funds may sell off contracts to align with new weight configurations.

Gold and Silver Price Predictions

Analysts expect that up to 13% of the total open contracts in the silver market may be sold off, potentially leading to a downward price reevaluation. The upcoming adjustments could result in over $5 billion in silver-related holdings being sold.

Technology Sector Highlights

CES 2026

The CES 2026 event will take place in Las Vegas, featuring keynotes from industry leaders like NVIDIA's Jensen Huang and AMD's Lisa Su. They are expected to discuss advancements in AI, data centers, and new product launches, including home robots and AI glasses.

IPOs of Tech Companies

Several tech companies, including Zhizhu (智谱), MiniMax, and TianShu ZhiXin, are set to go public. Zhizhu's IPO is priced at HKD 116.20, with trading expected to begin on January 8.

Venezuelan Political Situation

The situation in Venezuela is under scrutiny as President Maduro may appear in a U.S. court on January 5. Analysts believe that escalating tensions could enhance the appeal of precious metals as safe-haven assets, while the oil market may face immediate impacts due to supply disruptions.

Key Economic Data Releases

China and U.S. Economic Indicators

On January 9, China will announce its December CPI and PPI, with expectations of a 0.7% year-on-year CPI increase. In the U.S., the December non-farm employment report is highly anticipated, with forecasts of 55,000 new jobs and an unemployment rate of 4.5%.

Federal Reserve Challenges

The Federal Reserve faces a challenging year ahead, with mixed economic signals complicating policy decisions. The potential appointment of a new Fed chair by Trump could further influence monetary policy direction.

Conclusion

Investors should keep an eye on the upcoming economic reports and events, as they may present significant opportunities in the market.