US PCE inflation coming up next

Eyes are on US inflation with the market pricing in a 65% chance of a cut at the December FOMC. That ticked up about 8 points yesterday with the FOMC minutes highlighting a strong consensus around gradual rate cuts.

The main number to watch is core PCE, which is forecast to rise 0.3% m/m and 2.8% y/y. Even a slight rise above that would give the Fed a real headache.

The report is out at 10 am ET.

This article was written by Adam Button at www.forexlive.com.