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

There is a chance for the sharp rise in Pound Sterling (GBP) to test 1.3560 before levelling off; 1.3590 is not expected to come into view today.

Spain HCOB Services PMI: 57.1 (December) vs 55.6

EUR/CAD gains ground for the second successive session, trading around 1.6140 during the European hours on Tuesday.

AUD/JPY gains ground for the third successive session, trading around 105.20 during the European hours on Tuesday. The currency cross reached 105.37, a fresh high since July 2024, during the earlier trading hours.

India HSBC Composite PMI: 57.8 (December) vs previous 58.9

India HSBC Services PMI declined to 58 in December from previous 59.1

EUR/JPY inches higher after two days of losses, trading around 183.40 during the Asian hours on Tuesday. Traders will likely observe the HCOB Purchasing Managers’ Index (PMI) data from Germany and the Eurozone.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second successive session and trading around 98.20 during the Asian hours on Tuesday.

Ireland AIB Services PMI fell from previous 58.5 to 54.8 in December