Global stocks and non-dollar currencies find relief from inflation concerns, but the rally may be short-lived. Cartier-owner Richemont's sales report will give insight into high-end demand. Investors watch developments in the Middle East. US core inflation figure for December lifts sentiment, but analysts caution that the annual rate is still high. Strong earnings from US banks boost sentiment. European chipmakers may take cues from Taiwan Semiconductor Manufacturing Co's earnings report. The yen surges to a one-month high following comments by Bank of Japan Governor Kazuo Ueda. Economists expect the BOJ to raise interest rates. Trump's actions are expected to boost growth and inflationary pressures. South Korea's central bank leaves policy interest rate unchanged.