欧元升至1.043美元，保持在11月底的两年低点之上，因为西班牙通胀数据加剧了人们对欧洲央行逐步降息的预期。西班牙12月消费者价格同比上涨2.8%，高于11月的2.4%，超过2.6%的预测。这支持了欧洲央行的谨慎态度，其中包括2024年四次降息25个基点，预计2025年再降息四次，将存款利率降至2%。由于假期，欧元区其他主要经济体推迟发布数据，西班牙数据成为本周的焦点。2024年，欧元因央行政策分歧而下跌近6%。虽然欧洲央行计划逐步放松政策，但美联储将2025年的降息预测从四次下调至两次，从而加强了美元。当选总统唐纳德·特朗普领导下美国潜在政策变化的不确定性进一步影响了欧元的前景。

The euro increased to $1.043, holding above its late-November two-year low, as Spanish inflation data fueled expectations of gradual ECB rate cuts. Spain’s consumer prices rose 2.8% year-on-year in December, up from 2.4% in November and exceeding the 2.6% forecast. This supports the ECB’s cautious approach, which included four quarter-point rate cuts in 2024, with another four expected in 2025 to bring the deposit rate to 2%. Delayed data releases from other major euro-area economies due to holidays leave Spanish figures as the focus this week. The euro has declined nearly 6% in 2024, pressured by diverging central bank policies. While the ECB plans gradual easing, the Federal Reserve scaled back 2025 rate cut projections from four to two, strengthening the dollar. Uncertainty surrounding potential US policy changes under President-elect Donald Trump further weighs on the euro’s outlook.

欧洲股市周一小幅下跌，斯托克50指数下跌0.5%，斯托克600指数下跌0.4%，所有行业和主要市场均跌至负值。工业、媒体和科技股领跌。西班牙的通货膨胀率超出预期，从11月的2.4%上升到12月的2.8%，高于2.6%的预测。核心通胀率攀升至2.6%。这支持欧洲央行逐步降息，因为通货膨胀率已连续第二个月保持在2%以上。西班牙数据是本周欧元区唯一的主要数据，因为公共假期将德国、法国和意大利的关键报告推迟到1月。随着市场接近新年假期，预计交易将保持低迷。

European stocks edged lower Monday, with the Stoxx 50 down 0.5% and the Stoxx 600 off 0.4%, as all sectors and major markets slipped into negative territory. Losses were led by industrials, media, and technology stocks. Spanish inflation exceeded expectations, rising to 2.8% in December from 2.4% in November, above the 2.6% forecast. Core inflation climbed to 2.6%. This supports gradual rate cuts by the ECB as inflation remains above 2% for a second month. Spanish data was the sole major Eurozone release this week due to public holidays delaying key reports in Germany, France, and Italy until January. Trading is expected to remain subdued as markets approach the New Year holiday.

随着今年接近尾声，欧洲股市周一开盘涨跌互现。预计本周经济数据将较为清淡，周三地区和美国市场均因元旦休市。随着美国当选总统唐纳德·特朗普准备于1月就职，市场参与者现在正在为来年的重大政策变化做准备，包括关税、放松管制和税收变化。盘前交易中，欧洲斯托克50指数期货上涨0.8%，斯托克600指数期货下跌0.4%。

European equity markets were poised for a mixed open on Monday as the year draws to a close. This week is expected to be light on economic data, with both regional and U.S. markets closed on Wednesday in observance of New Year's Day. Market participants are now preparing for major policy changes in the coming year, including tariffs, deregulation, and tax changes, as U.S. President-elect Donald Trump prepares to take office in January. In premarket trading, Euro Stoxx 50 futures gained 0.8%, while Stoxx 600 futures slipped 0.4%.

尽管欧洲债券市场普遍回落，投资者继续评估来年的企业前景，但欧洲股市在周中圣诞假期后保持了早期涨幅，受到大多数行业的支撑。欧元区STOXX 50指数上涨0.7%，收于4890点，STOXX 600指数上涨0.5%，收于507点。新年假期前的交易清淡，让投资者可以推测美联储高利率的影响、美国潜在的关税，以及自然价格的新一轮反弹是否会引发通胀反弹。反过来，中国工业利润的下降表明，人们对欧盟主要贸易伙伴的需求更加担忧。银行和汽车生产商领涨，法国巴黎银行、联合信贷银行、大众汽车和Stellantis各上涨近2%。在台湾反垄断监管机构否决将Foodpanda业务出售给优步科技股份有限公司后，欧元区以外的Delivery Hero股价下跌5.5%。

European stocks held their early gains following the mid-week Christmas break, supported by most sectors despite the broad pullback in European bond markets as investors continued to gauge the corporate outlook for the upcoming year. The Eurozone’s STOXX 50 added 0.7% to close at 4,890 and the STOXX 600 advanced 0.5% to close at 507. The thin trading ahead of the New Year’s holiday allowed investors to speculate on the impact of high interest rates from the Fed, potential tariffs from the US, and whether the fresh rally for natural prices could trigger a rebound in inflation. In turn, lower industrial profits in China flagged a deeper concern for demand from a major trading partner for the bloc. Banks and auto producers led the gains, with BNP Paribas, UniCredit, Volkswagen, and Stellantis adding nearly 2% each. Outside the Eurozone, Delivery Hero sank 5.5% after Taiwan’s anti-trust regulator vetoed the sale of its Foodpanda business to Uber Technologies Inc.