| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | United Kingdom | Average earnings ex bonuses, 3 m/y | October | 5% | 4% | 4.3% |
| 07:00 | United Kingdom | Average Earnings, 3m/y | October | 5.9% | 4.6% | 4.9% |
| 07:00 | United Kingdom | ILO Unemployment Rate | October | 4.3% | 4.2% | 4.2% |
| 07:00 | United Kingdom | Claimant count | November | -14.9 | | -49.8 |
| 07:30 | Switzerland | Producer & Import Prices, y/y | November | 5.1% | | 5.8% |
| 09:00 | France | IEA Oil Market Report | | | | |
| 10:00 | Eurozone | Industrial Production (YoY) | October | 5.1% | 3.2% | 3.3% |
| 10:00 | Eurozone | Industrial production, (MoM) | October | -0.2% | 1.2% | 1.1% |
USD weakened against most of its major rivals in the European session on Tuesday, stepping back from its one-week high, as investors eagerly awaited the beginning of a two-day policy meeting of the U.S. Federal Reserve later in the day.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, fell 0.22% to 96.10.
The Fed will conclude its final meeting of 2021 on Wednesday, and markets expect from it an announcement of a more aggressive policy approach in response to accelerating price pressures.
While testifying before the U.S. lawmakers in November, the Fed’s Chair Jerome Powell acknowledged heightened risk of persistent inflation, and said that a possibility of a stepped-up pace of tapering activity is to be discussed at the central bank’s December meeting. He also noted that he thinks that it’s appropriate to consider wrapping up taper a few months sooner.
Another point of interest for investors will be the updated economic and interest rate projections of the Fed’s policymakers.
Also, investors will receive the U.S. November PPI data later today (at 15:30 GMT), which could shed more light on price pressures. The U.S. CPI report, which was released on Friday, showed that annual inflation increased 6.8% in November, which marked the fastest rate since 1982.