{"id":3468,"date":"2025-12-24T14:58:34","date_gmt":"2025-12-24T03:58:34","guid":{"rendered":"https:\/\/www.amillex.com\/?p=3468"},"modified":"2025-12-26T14:01:55","modified_gmt":"2025-12-26T03:01:55","slug":"amillex-daily-market-commentary-resilient-economic-data-fuels-risk-appetite-as-equities-and-precious-metals-hit-record-highs","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/fr\/2025\/12\/24\/amillex-daily-market-commentary-resilient-economic-data-fuels-risk-appetite-as-equities-and-precious-metals-hit-record-highs\/","title":{"rendered":"Commentaire quotidien d&#039;Amillex sur les march\u00e9s | Des donn\u00e9es \u00e9conomiques solides alimentent l&#039;app\u00e9tit pour le risque\u00a0: les actions et les m\u00e9taux pr\u00e9cieux atteignent des sommets historiques\u00a0"},"content":{"rendered":"<p class=\"has-medium-font-size\"><strong>24 d\u00e9cembre 2025.&nbsp;<\/strong>La publication hier par le d\u00e9partement du Commerce am\u00e9ricain des donn\u00e9es r\u00e9vis\u00e9es du PIB du troisi\u00e8me trimestre a confirm\u00e9 la robustesse de l&#039;\u00e9conomie. Le taux de croissance annualis\u00e9 a atteint le chiffre impressionnant de 4,31\u00a0% (TP3T), d\u00e9passant largement le consensus du march\u00e9 qui tablait sur 3,31\u00a0% (TP3T). Ce r\u00e9sultat a propuls\u00e9 les actions am\u00e9ricaines \u00e0 la hausse, prolongeant ainsi le rallye de fin d&#039;ann\u00e9e. Mardi, \u00e0 la cl\u00f4ture, le S&amp;P 500 s&#039;\u00e9tablissait \u00e0 6\u00a0909,79 points, un nouveau record historique. Parall\u00e8lement, les cours de l&#039;or et de l&#039;argent au comptant ont atteint des sommets historiques, cr\u00e9ant une synergie entre les march\u00e9s actions et m\u00e9taux, soutenue par une forte croissance. La question cruciale pour le march\u00e9 demeure\u00a0: cette dynamique de croissance va-t-elle freiner les anticipations de baisse des taux et engendrer une divergence entre les actifs \u00e0 risque\u00a0?&nbsp;<\/p>\n\n\n\n<div style=\"height:60px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><strong>Performance du march\u00e9 et analyse fondamentale par classe d&#039;actifs<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>1. March\u00e9 boursier am\u00e9ricain<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Performance de l&#039;indice :<\/strong>&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list has-medium-font-size\">\n<li class=\"has-medium-font-size\">L&#039;indice Dow Jones Industrial Average est rest\u00e9 relativement stable, affichant un gain modeste de 0,16%.&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">L&#039;indice S&amp;P 500 a progress\u00e9 de 0,46%, marquant ainsi sa quatri\u00e8me s\u00e9ance de hausse cons\u00e9cutive et un nouveau record.&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">L&#039;indice Nasdaq a progress\u00e9 de 0,57%, tir\u00e9 par la vigueur continue des valeurs technologiques \u00e0 tr\u00e8s forte capitalisation.&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Focus sur les actions :<\/strong>&nbsp;NVIDIA (NVDA) a poursuivi son ascension intraday, bondissant d&#039;environ 31 TP3T et ramenant sa capitalisation boursi\u00e8re vers le seuil de 1 TP4T4,6 billions\u00a0; Broadcom (AVGO) a d\u00e9montr\u00e9 une solide dynamique avec un gain de 2,31 TP3T, soutenu par une demande persistante en IA, une synergie entre logiciels et mat\u00e9riels et une r\u00e9silience \u00e9conomique globale.&nbsp;<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Facteurs d\u00e9terminants\u00a0:<\/strong>&nbsp;La progression du cours de NVIDIA est attribu\u00e9e \u00e0 une conjonction de facteurs : des mesures politiques favorables (reprise potentielle des exportations vers la Chine), une clart\u00e9 strat\u00e9gique (sortie de la concurrence dans le cloud) et un contexte macro\u00e9conomique robuste.&nbsp;<\/p>\n\n\n\n<div style=\"height:60px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\"><strong>2. March\u00e9 des changes<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">L&#039;indice du dollar am\u00e9ricain est pass\u00e9 sous la barre des 98, atteignant son plus bas niveau depuis octobre. L&#039;indice a connu une volatilit\u00e9 \u00e0 court terme avant les f\u00eates, pris en \u00e9tau entre de solides donn\u00e9es \u00e9conomiques nationales et des flux fluctuants vers les valeurs refuges\u00a0;&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">L&#039;EUR\/USD a maintenu sa trajectoire ascendante, tentant d&#039;atteindre ses plus hauts niveaux depuis le d\u00e9but de l&#039;ann\u00e9e alors que le dollar s&#039;est globalement affaibli ;&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">La paire USD\/JPY a recul\u00e9 jusqu&#039;au niveau de 156,30, les anticipations d&#039;une normalisation de la politique de la Banque du Japon (BoJ) continuant d&#039;exercer une pression \u00e0 la baisse \u00e0 moyen terme sur la paire\u00a0;&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">La paire GBP\/USD a maintenu sa relative vigueur, soutenue par une inflation britannique persistante et par les anticipations de taux d&#039;int\u00e9r\u00eat \u00ab\u00a0plus \u00e9lev\u00e9s pendant une p\u00e9riode prolong\u00e9e\u00a0\u00bb.&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Logique de conduite :<\/strong>&nbsp;Les analystes estiment que, m\u00eame si les donn\u00e9es de croissance robustes confortent la Fed dans le maintien de ses taux inchang\u00e9s \u00e0 court terme, elles n&#039;ont pas remis en cause les pr\u00e9visions consensuelles qui tablent sur deux baisses de taux en 2026.&nbsp;<\/p>\n\n\n\n<div style=\"height:60px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\"><strong>3. M\u00e9taux pr\u00e9cieux et mati\u00e8res premi\u00e8res<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>M\u00e9taux pr\u00e9cieux :&nbsp;<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">L&#039;or au comptant (XAUUSD) a atteint un nouveau record, fr\u00f4lant les 4\u00a0500\u00a0$ l&#039;once. Cette hausse est principalement aliment\u00e9e par les tensions g\u00e9opolitiques et les incertitudes li\u00e9es aux cha\u00eenes d&#039;approvisionnement (notamment les \u00e9v\u00e9nements impliquant le Venezuela et la Russie).&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">L&#039;argent au comptant (XAG\/USD) a r\u00e9alis\u00e9 une performance exceptionnelle, bondissant de 3,5% pour franchir la barri\u00e8re psychologique de $70\/oz, aliment\u00e9e par la demande industrielle, des stocks restreints et un m\u00e9lange d&#039;achats de valeur refuge et d&#039;achats sp\u00e9culatifs.&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Mati\u00e8res premi\u00e8res :&nbsp;<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">Le prix du p\u00e9trole brut WTI a rebondi pour la troisi\u00e8me s\u00e9ance cons\u00e9cutive apr\u00e8s avoir atteint son plus bas annuel, pour se stabiliser autour de 1 TP4 58,60, soit une reprise totale d&#039;environ 4,81 TP3. L&#039;instabilit\u00e9 g\u00e9opolitique li\u00e9e au Venezuela et au conflit russo-ukrainien constitue le principal catalyseur de cette reprise.&nbsp;<\/li>\n<\/ul>\n\n\n\n<div style=\"height:60px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\"><strong>4. Actifs crypto<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">Malgr\u00e9 un contexte haussier pour les actifs \u00e0 risque, le march\u00e9 des cryptomonnaies n&#039;a pas connu de hausse simultan\u00e9e des volumes, contrairement au Bitcoin (BTC) et \u00e0 l&#039;Ethereum (ETH). Cela sugg\u00e8re que les capitaux \u00e0 court terme privil\u00e9gient actuellement les actifs \u00e0 risque traditionnels et les m\u00e9taux pr\u00e9cieux aux d\u00e9pens des actifs num\u00e9riques.&nbsp;<\/li>\n<\/ul>\n\n\n\n<div style=\"height:60px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\"><strong>5. Le th\u00e8me du jour<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">Demandes initiales d&#039;allocations ch\u00f4mage aux \u00c9tats-Unis (pour la semaine se terminant le 20 d\u00e9cembre)&nbsp;<\/li>\n<\/ul>\n\n\n\n<div style=\"height:60px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>","protected":false},"excerpt":{"rendered":"<p>December&nbsp;24, 2025.&nbsp;Yesterday\u2019s release of revised Q3 GDP data by the US Department of Commerce continued to signal robust economic resilience. The annualized growth rate reached a staggering 4.3%, significantly outperforming the market consensus of 3.3%. This print propelled US equities upward, sustaining the &#8220;Santa Claus Rally.&#8221; At Tuesday&#8217;s close, the S&amp;P 500 settled at 6,909.79, [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":3469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[8],"tags":[],"class_list":["post-3468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news","entry","has-media"],"_links":{"self":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/comments?post=3468"}],"version-history":[{"count":2,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3468\/revisions"}],"predecessor-version":[{"id":3479,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3468\/revisions\/3479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media\/3469"}],"wp:attachment":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media?parent=3468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/categories?post=3468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/tags?post=3468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}