Illustration shows plastic letters arranged to read Inflation are placed on U.S. dollar banknotes.
In the markets of Alun John, a look at the day ahead.
The lull before the U.S. inflation data allows for a moment to reflect on a darkening geopolitical backdrop.
Ukraine's creditors are due to vote on a proposal to defer payments on its international bonds later on Tuesday. Tensions remain high in Taiwan and a Donald Trump story broke overnight - just like the old days - as FBI agents raided the former President's gilded Mar-a-Lago estate.
The Ukrainian bondholders have until 5 p.m. New York time 2100 GMT to decide whether to back the proposal to defer payments on war-torn country's international bonds for 24 months.
The government seems optimistic as of now.
After the end of China's military drills around the island, Chinese, Taiwanese and U.S. politicians started their verbal sparring on Tuesday.
Trump said that FBI agents raided his Mar-a-Lago estate and broke into his safe in what he said was part of an investigation into the former President's removal of official records from the White House.
Markets are currently in a holding pattern as investors wait for Wednesday's release of the U.S. CPI data.
A high inflation print after last week's strong jobs numbers would probably put an end to speculation that the Fed will pivot from worrying about inflation to fearing a recession.
The U.S. benchmark 10 year yields in Asia trade were steady, G 10 currencies sank and MSCI's broadest index of Asia-Pacific shares outside Japan rose a touch.
Key developments that could influence markets on Tuesday:
Politics: Deadline for Ukraine international bond holders to vote on request for two-year debt payment freeze.