XM

Tariff headlines remain at the top of investors’ agendas.But flash S&P Global PMIs could attract special attention.Auctions to reveal information about demand for Treasuries.Tokyo CPI data and Canada’s retail sales also on tap.

ECB is expected to trim rates, but the BoC might pause this time.CPI data also in the spotlight; due in UK, Canada, New Zealand and Japan.Retail sales the main release in the United States.China GDP eyed as Beijing not spared by Trump.

Dollar traders await US CPI data amid global trade turbulence.RBNZ to cut by 25bps, could maintain dovish stance.China’s CPI and PPI to reveal tariff impact on inflation.Strong UK GDP data could help the pound climb higher.

US PCE inflation up next, but will consumption data matter more?UK budget and CPI in focus after hawkish BoE decision.Euro turns to flash PMIs for bounce as rally runs out of steam.Inflation numbers out of Tokyo and Australia also on the agenda.

Germany goes to the polls, but far-right AfD unlikely to form government.German CPI data might be bigger driver for the Euro.US inflation also in the spotlight as PCE report awaited.CPI releases in Australia and Japan, Canadian GDP also on tap.

After Powell and CPI data, dollar traders turn to Fed minutes.RBA to cut rates by 25bps, focus on forward guidance.RBNZ may opt for a third consecutive 50bps rate cut.UK, Canadian and Japan’s CPI data also in focus.

Markets brace for impact ahead of Trump’s inauguration.BoJ seen raising rates at first gathering of 2025.Euro and Pound traders turn gaze to PMIs.Canada and New Zealand CPI data to shape BoC and RBNZ bets.World Economic Forum in Davos also in focus.

BoJ may leave rates unchanged in December’s meeting; Next rate hike may not come until March; Policy decision is due on Thursday at 03:00 GMT.

Fed is widely expected to cut rates by 25 bps on Wednesday. But updated dot plot may signal fewer cuts in 2025.