The United States had an annual inflation rate of 2.7% in December, as tracked by the Consumer Price Index (CPI), matching November’s increase, the US Bureau of Labor Statistics (BLS) reported on Tuesday. These figures matched the market forecast.

ADP Employment Change Weekly in the United States (US) rises to 11,750 per week on average for the four weeks ending December 27, from 11,500 previously, according to Automatic Data Processing (ADP).

United States Consumer Price Index n.s.a (MoM) dipped from previous 324.122 to 324.054 in December

United States Consumer Price Index Core s.a up to 331.86 in December from previous 331.07

United States Consumer Price Index (YoY) in line with expectations (2.7%) in December

United States Consumer Price Index n.s.a (MoM) down to 324.054 in December from previous 324.122

United States Consumer Price Index ex Food & Energy (MoM) came in at 0.2% below forecasts (0.3%) in December

United States Consumer Price Index (MoM) meets forecasts (0.3%) in December

United States Consumer Price Index n.s.a (MoM) fell from previous 324.122 to 324.05 in December

United States Consumer Price Index ex Food & Energy (YoY) registered at 2.6%, below expectations (2.7%) in December

Canada Building Permits (MoM) below expectations (-6.5%) in November: Actual (-13.1%)

United States ADP Employment Change 4-week average: 11.75K (December 27) vs 11.5K

The British Pound (GBP) pushes higher against the Japanese Yen (JPY) on Tuesday, supported by broad-based Yen weakness as political developments in Japan weigh on sentiment.

Russia Central Bank Reserves $ up to $763.9B from previous $752.6B

EUR/USD is trading at 1.1660 at the time of writing, after moving back and forth between 1.1650 and 1.1675 during the Asian ans European Markets on Monday.

The Australian Dollar remains trading within previous ranges against its US counterpart, as the pair’s recovery from the 0.6660 area was capped at 0.6725 on Monday before pulling back to 0.6700.

The Japanese Yen (JPY) fell 0.5% to 158.91 per US Dollar (USD), hitting its weakest level since July 2024, as speculation of a snap election under PM Takaichi triggered renewed selling, ING's FX analyst Francesco Pesole notes.

JPY and JGB slide, while the Nikkei rallies as Japan election talks fuel bets of more government stimulus.

Markets have started to rethink some of their USD-bearish Fed independence bets, following several pushbacks against the Department of Justice's probe into Jerome Powell from Republican lawmakers.

US Dollar (USD) has stabilized following yesterday’s dip triggered by heightened political threat to the Fed’s independence.

EUR/GBP trades in a tight range around 0.8660 on Tuesday, virtually unchanged on the day at the time of writing.

EUR/USD missed an opportunity to break above 1.1700, with the euro lacking momentum while the US Dollar (USD) could strengthen further on upcoming inflation data, ING's FX analyst Francesco Pesole notes.

The Pound Sterling (GBP) holds onto Monday’s gains around 1.3470 against the US Dollar (USD) during the European trading session on Tuesday. The GBP/USD pair trades firmly ahead of the United States (US) Consumer Price Index (CPI) data for December, which will be published at 13:30 GMT.

The AUD/JPY pair trades 0.3% higher to near 106.46 during the European trading session on Tuesday. The pair jumps higher as the Japanese Yen (JPY) underperforms its peers amid uncertainty surrounding Japan’s political outlook.

Gold (XAU/USD) posts moderate losses in a calm trading session on Tuesday, pulling back from all-time highs at $4,630, but still above previous highs in the $4,560 area.

US Dollar (USD) is likely to trade in a range between 6.9620 and 6.9820. In the longer run, USD remains neutral but is now expected to trade in a lower range of 6.9520/6.9900, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Copper prices rose toward record levels as ongoing supply concerns coincide with strong US imports ahead of potential tariffs, keeping markets on edge, ING's commodity experts Ewa Manthey and Warren Patterson note.

USD is likely to continue to rise; the level to watch is 158.90, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Gold (XAU/USD) treads water on Tuesday as the market shifts into wait-and-see mode ahead of the release of US inflation data at 13:30 GMT. At the time of writing, XAU/USD trades around $4,585, consolidating just below Monday’s record peak near $4,630.

Gold surged to fresh record highs above $4,600 an ounce as geopolitical tensions, fiscal uncertainty, and strong central bank buying fueled demand for safe-haven assets, ING's commodity experts Ewa Manthey and Warren Patterson note.