December prices seen unchanged from November.

U.S. inflation data for December is due out this morning, with economists expecting that CPI will come in flat on month vs -0.3% in November. Core CPI is seen at +0.2% vs +0.1%. However, "any signal that things may be heating up could bolster the case for an end to quantitative easing sooner rather than later," says FXStreet contributing analyst Richard Lee.