China Foreign Exchange Reserves (MoM): $3.358T (December) vs $3.346T

Austria Wholesale Prices n.s.a (MoM): -0.9% (December) vs previous 0.9%

Austria Wholesale Prices n.s.a (YoY) down to 0.1% in December from previous 0.9%

France Consumer Confidence meets forecasts (90) in December

Here is what you need to know on Wednesday, January 7:

The Automatic Data Processing (ADP) Research Institute will release its monthly Employment Change Report for December on Wednesday.

Retail Sales in Germany climbed 1.1% year-over-year (YoY) in November, following an increase of 0.9% in October, according to official data released by Destatis on Wednesday.

Can the tides of the past internet era offer practical insights into the current debates surrounding the AI industry bubble? Why does every wave of technological revolution give rise to large-scale as

EUR/CAD extends its winning streak for the third consecutive day, trading around 1.6150 during the Asian hours on Wednesday. The currency cross gains ground ahead of Germany’s Retail Sales and Unemployment data for November due later in the day.

Australia Building Permits (YoY) climbed from previous -1.8% to 20.2% in November

Australia Building Permits (MoM) registered at 15.2% above expectations (2%) in November

Japan Jibun Bank Services PMI fell from previous 52.5 to 51.6 in December

Australia S&P Global Composite PMI declined to 51 in December from previous 51.1

Australia S&P Global Services PMI increased to 51.1 in December from previous 51

The Australian Bureau of Statistics (ABS) will publish the Consumer Price Index (CPI) data for November at 00:30 GMT on Wednesday.

New Zealand GDT Price Index: 6.3% vs -4.4%

United States S&P Global Services PMI: 52.5 (December) vs previous 52.9

United States S&P Global Composite PMI down to 52.7 in December from previous 53

Federal Reserve (Fed) Governor Stephen Miran told Fox Business on Tuesday that he expects data to support more rate cuts and further argued that the Fed should cut more than 100 basis points this year.

Precious metal prices experienced spectacular rises in the final days of the year, followed in some cases by sharp setbacks. On Boxing Day, the price of Gold reached a new record high of $4,550 per troy ounce, Commerzbank's commodity analyst Carsten Fritsch notes.

United States Redbook Index (YoY) declined to 7.1% in January 2 from previous 7.6%

Richmond Federal Reserve Bank President Thomas Barkin said on Tuesday that upcoming rate decisions will need to be "finely tuned" given risks to both unemployment and inflation goals, per Reuters.

Mexico Consumer Confidence up to 44.8 in December from previous 44

Mexico Consumer Confidence s.a up to 44.7 in December from previous 44.2

The safe haven US Dollar (USD) lost ground after an early firm start, tracking the broader risk-on mood, while Pound Sterling (GBP) outperformed G10 peers overnight, OCBC's FX analysts Sim Moh Siong and Christopher Wong note.

US Dollar (USD) is likely to trade in a range between 6.9720 and 6.9920. In the longer run, deeply oversold conditions and waning momentum suggest the downside potential could be limited to a test of 6.9590, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The preliminary German Harmonized Index of Consumer Prices (HICP) data for December is due for release today at 13:00 GMT.

A little over 48 hours after the US military operation in Venezuela, there are few marks left in the currency market.

United Kingdom S&P Global Services PMI fell from previous 52.1 to 51.4 in December

United Kingdom S&P Global Composite PMI down to 51.4 in December from previous 52.1