The Federal Reserve cut interest rates by 0.25% on December 18 but an interest rate cut is unlikely when the Fed issues its next policy decision on January 29.

The dollar advanced after a drop in the prior session while the euro edged lower on Monday, as market moves were being dictated by recent global central bank meetings that set expectations for diverging rate cut paths next year.

The Federal Reserve’s preferred inflation gauge moved slightly higher in November — but not as much as economists were expecting, an indication that price hikes aren’t accelerating in a worrisome fashion.

President-elect Donald Trump plans to launch a mass deportation operation targeting millions of immigrants living in the U.S. illegally and with temporary protections once he takes office on Jan. 20, a challenging initiative that could split apart families and affect U.S. businesses.

Inflation in the U.S. showed signs of cooling in November as price increases slowed sharply after two months of gains.

Sri Lanka's consumer price inflation dropped to minus 1.7% year-on-year in November after easing to minus 0.7% in October, official data showed on Monday, as the country posted a strong rebound from its worst financial crisis in decades.

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Inflation reaccelerated in November by the measure preferred by policymakers at the Federal Reserve, but not as much as forecasters had expected.

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The Personal Consumption Expenditures index climbed 2.4 percent from a year earlier, though the report’s details were more subdued than expected.

Brazil economists raised their forecasts for inflation and borrowing costs in 2025 after central bankers reinforced their commitment to extend jumbo interest rate hikes into early next year.

Mexico’s annual inflation slowed slightly less than expected in early December as the central bank extends its interest rate cuts.