Federal Reserve (Fed) Bank of New York President John Williams said that he projects the jobless rate will come back down over the next few years at an event hosted by the New Jersey Bankers Association. Audience questions expected on Monday.

Canadian home sales were broadly unchanged in November, with weakness across most provinces offset by gains in the West.

Colombia Retail Sales (YoY) below forecasts (12%) in October: Actual (10%)

United States NAHB Housing Market Index above forecasts (38) in December: Actual (39)

Federal Reserve (Fed) Governor Stephen Miran stated that tariffs aren't driving higher inflation in goods and argued that the measure of underlying inflation is near 2% on Monday at Columbia University's Institute of Global Politics, in New York.

USD/CNH fell below 7.0500, marking its lowest level since October 2024, amid weak November real sector data from China. Slower retail sales, subdued industrial production, and a sharper-than-expected drop in fixed asset investment highlight ongoing economic softness.

The Euro (EUR) is steady, trading in a tight range in the mid 1.17s and entering Monday’s NA session with a fractional gain vs. the US Dollar (USD).

Canada BoC Consumer Price Index Core (MoM) declined to -0.1% in November from previous 0.6%

Canada Consumer Price Index - Core (MoM) dipped from previous 0.3% to 0.2% in November

Canada Consumer Price Index (MoM): 0.1% (November) vs previous 0.2%

Canada BoC Consumer Price Index Core (YoY) unchanged at 2.9% in November

Canada Consumer Price Index (YoY) below expectations (2.4%) in November: Actual (2.2%)

United States NY Empire State Manufacturing Index came in at -3.9, below expectations (10.6) in December

Canada Housing Starts s.a (YoY) came in at 254.1K, above forecasts (248K) in November

USD/CNH remains pressured near recent lows, weighed by broad USD softness and a low USD/CNY fix. While daily momentum is mildly bearish and RSI approaches oversold levels, a break below 7.0380 could trigger further downside, whereas resistance sits at 7.08.

Weak UK GDP data has weighed on the pound ahead of a pivotal week featuring jobs data, CPI and a likely Bank of England (BoE) rate cut.

Canada’s Consumer Price Index (CPI) data for November is scheduled to be published today at 13:30 GMT.

November IP growth remained solid at 4.8% y/y thanks to an export-growth rebound after the trade deal. Real estate and infrastructure FAI declined deeper; policy makers vowed to stabilise investment.

NFP likely has been overstated since April 2024 by c.60k per month owing to birth-death adjustments. Actual job growth likely was much weaker in 2024 than the market had initially perceived.

The report by State Secretariat of Economic Affairs on Economic Forecasts shows that the inflation is projected to average at 0.2% in 2025 and 2026, and is estimated to grow by 0.5% in 2027.

Turkey Budget Balance climbed from previous -223.2B to 169.5B in November

Turkey Budget Balance: 169.49B (November) vs -223.2B

India Trade Deficit Government: $24.53B (November) vs previous $41.68B

Switzerland Producer and Import Prices (YoY) up to -1.6% in November from previous -1.7%

India WPI Inflation came in at -0.32%, above forecasts (-0.6%) in November

Japan Tertiary Industry Index (MoM): 0.9% (October) vs 0.3%

The NZD/USD pair loses ground to around 0.5780 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) weakens against the US Dollar following the downbeat Chinese economic data.

Reserve Bank of New Zealand (RBNZ) Governor Anna Breman said on Monday that the economic outlook has evolved broadly in line with the Monetary Policy Committee’s expectations, with signs continuing to emerge that growth is recovering.

China Retail Sales (YoY) registered at 1.3%, below expectations (2.9%) in November

China Industrial Production (YoY) below expectations (5%) in November: Actual (4.8%)