It’s data time in the US and we’re getting some big numbers
At 13.30 GMT we get the PCE and the personal income and spending numbers for October.
This is a big data point for the Fed and so close to a possible hike meeting, there’s going to be a lot of market attention on it.
Expectations are for PCE y/y at 1.5% vs 1.6% prior & Core at 1.4% vs 1.3% prior. Anything less than expected, and worse than Sep could hit the buck hard. Anything from a 2pp or more variation will have a greater effect on the price move. If we beat the numbers, the buck is likely to fly.