Monday: October Machine Orders data will see light in Japan – Analysts see annual change for this one drop to indicate a 4.9% contraction. November’s Producer Price Index will also see light, as will the Tertiary Industry Index.

Tuesday: November Industrial Production data will be released in China. The Final estimate of November’s Consumer Price Index will see light in Germany and Spain. In the U.K., the release of November’s CPI is expected to aid annual inflation to 1.1%. November’s Producer Price Index will also see light in the U.K. In Germany, December’s ZEW Survey will see light.

Wednesday: The fourth quarter’s Tankan Index will see light in Japan as will the Final estimate of October’s Industrial Production Index. The Final estimate of France’s and Italy’s November CPI are also due. In the U.K., Nov labor market data will see light. In the U.S. the weekly MBA Mortgage Applications will see light, as will November’s Advance Retail Sales data, November’s Producer Price Index and November’s Industrial Production. The highlight for the day, however, will be the Fed’s Dec rate announcement, where a rate hike is widely expected.

Thursday: Preliminary December Purchasing Managers’ Indices will see light globally. The Bank of England is scheduled to announce interest rates, though no change is expected, in spite of the Fed’s due hike. In the U.S., December’s Empire Manufacturing will be released, alongside November’s Consumer Price Index. The weekly Initial Jobless Claims will also see light in the U.S., as will November’s Industrial Production.

Friday: Third quarter Labor Costs data will see light in Spain. November’s CPI will see light in the Eurozone. November’s Housing Starts data will be released in the U.S.