The market on New Year's Eve never lacks highlights. The final battle of 2025 is brewing with underlying currents — under the special background of low liquidity at year-end, key economic data are being released one after another. Will they trigger a continuation of the trend or a reversal?

First, at 21:30, the US initial jobless claims data. This number directly reflects the temperature of the labor market. The US employment market has already cooled significantly. If the data exceeds expectations and rises, it will further reinforce expectations of economic slowdown, which is bearish for the dollar and bullish for gold and silver. Conversely, if the data is moderate, the dollar may experience a short-term rebound, giving the recently surging precious metals a breather.

Next, at 23:30, the EIA crude oil inventory data to add some excitement. Inventory data directly reflects the supply and demand reality — a significant increase in inventories indicates oversupply, putting pressure on oil prices; a decrease suggests potential supply tightness, allowing room for oil prices to rebound. What's more intense is that year-end market liquidity is already thin, so even a small amount of funds entering the market at this time could trigger sharp price fluctuations.

The collision of these two major data points in a low-liquidity market could lead to unpredictable market movements. Keep a close watch on key levels — this final showdown at the end of the year is worth paying full attention to.