On a shorter term basis, the main focus in the U.S. this week will be the December non-farm payrolls report which will help shape expectations for how quickly the Federal Reserve will raise interest again. Job growth is expected to be strong and a pickup in wage growth is expected after a drop in November. The FOMC minutes will reinforce the Fed's hawkishness while the ISM reports should show that so far, the strong has dollar has had a limited impact on manufacturing and service sector activity.