J.P. Morgan Now Expects Two ECB Rate Hikes Amid Inflation Pressures 
Bank of Japan Holds Rates Steady Amid Inflation Concerns and Yen Weakness 
Fed Holds Rates Steady as Middle East Conflict Clouds Inflation Outlook 
Lots of economic data and events scheduled for today, and some with high volatility risks associated.
Data released so far:
- Australia: Retail sales up 0.4 percent in November.
- Japan: Eco-watchers’ survey outlook index declined 2.7 points to 48.5 in December, and current condition index declined 3 points to 48.
Upcoming:
- Spain: November industrial output report will be released at 8:00 GMT.
- Italy: November Industrial report will be released at 9:00 GMT.
- United Kingdom: Manufacturing and industrial production report will be released at 9:30 GMT, along with November GDP report, and trade balance.
- United States: CPI inflation report will be released at 13:30 GMT.
