Germany's unemployment rate remained unchanged at the end of the year but the actual jobless numbers increased as economic activity remains weak. The unemployment rate held steady at 6.3 percent, as expected, in December, figures from the Federal Employment Agency showed on Wednesday.

The Canadian dollar weakened against other major currencies in the Asian session on Wednesday, as the crude oil prices traded lower after the United States and Venezuela reached an agreement allowing the export of up to $2 billion worth of Venezuelan crude oil to U.S. ports.

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday, as inflation has decreased more than anticipated, it is still high. Economists predict that interest rate increases will likely be postponed but are still a possibility.

Germany's construction sector expanded for the first time since early 2022 on rebound in civil engineering activity, purchasing managers' survey results from S&P Global showed on Wednesday. The construction Purchasing Managers' index posted 50.3 in December, up from 45.2 in November. A score above 50.0 indicates expansion.

Australia inflation slowed more than expected to a three-month low in November but core inflation remained stable, the Australian Bureau of Statistics said on Wednesday. The consumer price index rose 3.4 percent year-on-year in November, slower than the 3.8 percent increase in October. This was the slowest since August. Inflation was seen at 3.6 percent.

Unemployment and retail sales from Germany and flash inflation from the euro area are the top economic news due on Wednesday. At 2.00 am ET, Destatis is scheduled to issue Germany's retail sales data for November. Sales are forecast to grow 0.2 percent on a monthly basis after falling 0.3 percent in October.

The euro area private sector grew for a twelfth consecutive month in December but the pace of growth softened to a three-month low on weaker demand for goods and services, final survey data from S&P Global showed on Tuesday. The HCOB final composite output index dropped to 51.5 in December from November's 30-month high of 52.8. The reading was also below the initial estimate of 51.9.

Services and composite Purchasing Managers' survey data from the euro area and flash inflation from Germany are the top economic news due on Tuesday. At 2.45 am ET, France's statistical office INSEE is scheduled to publish flash inflation data. Inflation is forecast to remain unchanged at 0.9 percent in December.

A report released by the Institute for Supply Management on Monday showed its reading on U.S. manufacturing activity unexpectedly decreased in the month of December. The ISM said its manufacturing PMI edged down to 47.9 in December after slipping to 48.2 in November, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 48.3.

The U.S. Dollar gained against major currencies during the week ended January 2 as the minutes of the latest Federal Open Markets Committee revealed a Fed split over the interest rate strategy for 2026.

UK mortgage approvals decreased in November and consumer credit posted a faster growth, data from the Bank of England showed on Monday. Net mortgage approvals for house purchase, which is an indicator of future borrowing, fell 500 to 64,500 in November. Approvals were forecast to fall to 64,000. Meanwhile, approvals for remortgaging increased 3,200 to 36,600 in November.

Mortgage approvals from the UK and economic sentiment from the euro area are due on Monday, headlining a light day for the European economic news. At 2.00 am ET, the Turkish Statistical Institute is set to issue consumer and producer prices data for December. Inflation is expected to ease slightly to 31 percent in December from 31.07 percent in November.

China's service sector expanded moderately in December, albeit at a slower pace, as growth in new orders softened the most in six months, survey data from S&P Global revealed on Monday. The headline RatingDog China Purchasing Managers' Index posted 52.0 in December, down from 52.1 in the previous month. The score suggested another expansion in the service sector.

The U.K. manufacturing ended the year 2025 on a positive note with the sector expanding at the fastest pace in 15 months on increased production and stronger demand, results of a survey by the S&P Global showed on Friday.

The euro area manufacturing activity contracted the most since March 2025 with production levels falling for the first time since last February, the survey compiled by S&P Global showed Friday. The HCOB final manufacturing Purchasing Managers' Index declined to 48.8 in December from 49.6 in November. The flash score was 49.2.

The euro weakened against other major currencies in the European session on Friday, after data showed that the euro area manufacturing activity contracted the most since March 2025 with production levels falling for the first time since last February.

UK house prices grew at the slowest pace since April 2024 largely due to the high base effects, data from the Nationwide Building Society showed on Friday. House prices posted an annual growth of 0.6 percent in December, which was weaker than the 1.8 percent rise in November. Prices were expected to climb 1.2 percent.

Final factory Purchasing Managers' survey results from the euro area and the UK are the top economic news due on Friday. At 2.00 am ET, UK Nationwide house price data is due. House prices are forecast to grow 1.2 percent on a yearly basis in December, following prior month's 1.8 percent gain.

Singapore's economic growth accelerated in the fourth quarter driven by strong expansions in the biomedical and pharmaceutical output, advance estimates from the Ministry of Trade and Industry revealed on Friday. Gross domestic product grew 5.7 percent on a yearly basis in the fourth quarter, outpacing the 4.3 percent increase seen in the third quarter.

First-time claims for U.S. unemployment benefits unexpectedly dipped in the week ended December 27th, according to a report released by the Labor Department on Wednesday. The report said initial jobless claims fell to 199,000, a decrease of 16,000 from the previous week's revised level of 215,000. Economists had expected jobless claims to rise to 220,000.

China's manufacturing activity rebounded in December as manufacturing output returned to growth amid higher inflows of new work, survey data from S&P Global showed on Wednesday. The RatingDog headline factory Purchasing Managers' Index posted 50.1 in December, up from 49.9 in November. A score above 50.0 indicates expansion.

Following a split decision to lower interest rates by another quarter point last month, the minutes of the Federal Reserve's December meeting provided further clarification about officials' mixed views about the outlook for rates. The minutes revealed participants expressed a "range of views" about the restrictiveness of the Fed's current monetary policy stance.

A report released by MNI Indicators on Tuesday showed a significant rebound by its reading on Chicago-area business activity in the month of December. MNI Indicators said its Chicago business barometer jumped to 43.5 in December after plunging to 36.3 in November. Economists had expected the index to rise to 39.5.

A report released by the National Association of Realtors on Monday showed pending home sales in the U.S. shot up by much more than expected in the month of November. NAR said its pending home sales index spiked by 3.3 percent to 79.2 in November after surging by 2.4 percent to an upwardly revised 76.7 in October.

India's industrial production rebounded the most in two years in November on strong growth in manufacturing and mining sectors, official data revealed on Monday. Industrial production registered an annual growth of 6.7 percent in November, following October's 0.5 percent increase, the Ministry of Statistics and Programme Implementation reported.