Powell Lagarde christmas

We're minutes away from the 8:15 am ET ECB rate decision and that will be followed by a press conference 30 minutes later. Sandwiched in between at 8:30 am ET, we get initial jobless claims, the Philly Fed and US retail sales. The latter is a big one with the control group expected up 0.2%.

It doesn't end there with industrial production at 9:15 am ET and business inventories at 10 am ET.

Expect ECB leaks to continue all days as well.

For more, see the economic calendar.