Jerome Powell Attends Supreme Court Hearing on Trump Effort to Fire Fed Governor, Calling It Historic 
ECB Signals Steady Interest Rates as Fed Risks Loom Over Outlook 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Oil Prices Climb as Middle East Tensions and U.S. Inventory Data Boost Market Sentiment 
Japan Finance Minister Defends PM Takaichi’s Remarks on Weak Yen Benefits 
Asian Currencies Strengthen as Indian Rupee and Australian Dollar Rally 
China Services PMI Hits Three-Month High as New Orders and Hiring Improve 
Japan Services Sector Records Fastest Growth in Nearly a Year as Private Activity Accelerates 
Indian Rupee Strengthens Sharply After U.S.-India Trade Deal Announcement 
Japan Declines Comment on BOJ’s Absence From Global Support Statement for Fed Chair Powell. Source: Asturio Cantabrio, CC BY-SA 4.0, via Wikimedia Commons 
Sizable numbers of economic data and events scheduled for this week but all with low to medium risks associated.
Data released so far:
- United Kingdom: BRC shop price index rose by 1 percent in December.
- Australia: Retail sales rose by 0.2 percent in November.
- China: Consumer price index rose by 2.1 percent y/y in December and producer price index rose by 5.5 percent y/y.
- Japan: Consumer confidence improved to 43.1 in December.
Upcoming:
- France: Industrial output data for November will be published at 7:45 GMT.
- United States: NFIB business optimism index for December will be announced at 11:00 GMT, followed by Redbook index at 13:55 GMT, and JOLTS jobs report at 15:00 GMT along with TIPP economic optimism.
- Canada: Housing starts figure will be released at 13:15 GMT, followed by building permits data at 13:30 GMT.
- Auctions: US will auction 1-month bills at 16:30 GMT and 3-year notes at 18:00 GMT.
