Will the Fed cut rates in December? Core PCE, its preferred inflation gauge is coming out, and markets fear it will be too hot. Updated GDP, Durable Goods Orders and Unemployment Claims join the mix ahead of Thanksgiving. Live coverage.
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Big bulk of data
The Federal Reserve (Fed) considers core Personal Consumption Expenditure (core PCE) as the best gauge of underlying price pressures –drawing investors' attention despite its late release. In the upcoming release for October, the fate of the December rate cut lies in the balance. There are doubts that policymakers will proceed with a third consecutive reduction to borrowing costs.
Thursday's Thanksgiving holiday means several release have been brought forward – weekly jobless claims, Durable Goods Orders and an update on Gross Domestic Product (GDP) for the third quarter. That adds to promise of an explosive reaction.
The US Dollar needs strong data to rise, while Gold bulls prefer softer future. Stock bulls need lower inflation but above-expectations data elsewhere.
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