U.S.-Iran Tensions Escalate as Strait of Hormuz Crisis Disrupts Global Oil Markets 
Bank of Japan Signals Potential Rate Hike as Inflation Risks Rise Amid Energy Shock 
Asian Stocks Surge to Record Highs as Wall Street Rally Offsets Oil Price Concerns 
Bank of America Maintains Forecast for Two Fed Rate Cuts in 2026 Despite Inflation Risks 
RBI Holds Interest Rates Steady Amid Middle East Tensions and Global Uncertainty 
Singapore Tightens Monetary Policy Amid Middle East War Inflation Risks 
Citigroup Delays Fed Rate Cut Forecast Amid Strong Jobs Data and Inflation Concerns 
Stock Futures Dip as S&P 500, Nasdaq Hit Record Highs Amid Rising U.S.-Iran Tensions 
Iran-Pakistan Diplomacy and Strait of Hormuz Tensions Push Oil Prices Above $100 
Lots of economic data and events scheduled for today and some with high volatility risks associated.
Data released so far:
- Australia: Trade balance for November came at A$1.243 billion.
- Japan: Labor cash earnings rose by 0.2 percent y/y in November.
Upcoming:
- Germany: Factory orders for November will be released at 7:00 GMT, along with retail sales.
- Switzerland: December forex reserve data will be published at 8:00 GMT.
- Eurozone: Confidence data for December will be released at 10:00 GMT, along with retail sales report.
- United States: Trade balance for November will be published at 13:30 GMT, along with NFP report for December, followed by November factory orders and durable goods orders at 15:00 GMT. Fed’s Evans is scheduled to speak on economy and policy at 17:15 GMT. Fed’s Lacker is scheduled to speak at Maryland Bankers’ association at 18:00 GMT.
- Canada: Payroll report for December will be released at 13:30 GMT.
