| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | Germany | Retail sales, real adjusted | November | 0.5% | -0.5% | 0.6% |
| 07:00 | Germany | Retail sales, real unadjusted, y/y | November | -3.3% | -4.9% | -0.2% |
| 07:30 | Switzerland | Consumer Price Index (MoM) | December | 0% | -0.1% | -0.1% |
| 07:30 | Switzerland | Consumer Price Index (YoY) | December | 1.5% | 1.6% | 1.5% |
| 07:45 | France | CPI, m/m | December | 0.4% | 0.3% | 0.2% |
| 07:45 | France | CPI, y/y | December | 2.8% | 2.9% | 2.8% |
| 08:55 | Germany | Unemployment Change | December | -34 | -15 | -23 |
| 08:55 | Germany | Unemployment Rate s.a. | December | 5.3% | 5.3% | 5.2% |
| 09:30 | United Kingdom | Consumer credit, mln | November | 0.706 | 0.8 | 1.2 |
| 09:30 | United Kingdom | Mortgage Approvals | November | 67.1 | 65.4 | 67 |
| 09:30 | United Kingdom | Purchasing Manager Index Manufacturing | December | 58.1 | 57.6 | 57.9 |
USD rose against most of its major rivals in the European session on Tuesday, as the longer-dated U.S. bond yields continued to rise on heightened expectations that the Omicron Covid-19 variant would not have severe consequences for the economy and would not impact the Federal Reserves’ policy plans.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, increased 0.18% to 96.38.
The 10-year Treasury yields rose 2 basis points to 1.654% in the morning after jumping 12 basis points to 1.632% on Monday. A big jump in longer-dated Treasury yields reflected investors’ bets on an early interest rate hike by the Fed to ease growing inflation pressures.
According to the CME FedWatch Tool, market participants are now seeing a 63.2% probability that the Fed will hike its interest rates at its March gathering. A month ago, the chances of the March rate increase were seen at 27.1%. The odds of the May rate hike climbed to 76.2% from 46.4% a month ago.