Greg Peel is on a well-deserved break until Monday, 13th January. This week, which is FNArena's final week before we all start enjoying a well-deserved break, we will borrow the Overnight Report from third party content providers.

As far as the week ahead is concerned, all attention will go out to the FOMC, who meet Tuesday and Wednesday in Washington.

Locally, we get RBA minutes on Tuesday, and also the Government's Mid-Year Economic and Fiscal Outlook (MYEFO). Wednesday sees RBA Governor Stevens testifying to the House of Representatives Standing Committee on Economics.

This morning, we'll get the HSBC/Markit flash China manufacturing PMI, last at 50.8 and expected to rise to 50.9. Japan's quarterly Tankan survey is also due.