The main event in the European session was the UK Retail Sales data which missed on estimates, but didn't really change anything in terms of market pricing. In the American session, we have the Canadian Retail Sales data and the US PCE report, but the market will focus mostly on the latter.
13:30 GMT/08:30 ET - US November PCE
The US PCE Y/Y is expected at 2.5% vs. 2.3% prior, while the M/M measure is seen at 0.2% vs. 0.2% prior. The Core PCE Y/Y is expected at 2.8% vs. 2.8% prior, while the M/M figure is seen at 0.1% vs. 0.3% prior.
Forecasters can reliably estimate the PCE once the CPI and PPI are out, so the market already knows what to expect. Therefore, unless we see a deviation from the expected numbers, it shouldn’t affect the current market’s pricing.
Central bank speakers:
- 12:30 GMT/07:30 ET - Fed's Daly (neutral - non voter in 2025)
- 13:30 GMT/08:30 ET - Fed's Williams (neutral - voter in 2025)
This article was written by Giuseppe Dellamotta at
www.forexlive.com.
