In the US, the investors will look out for the “Beige Book”, the Fed’s compendium of reports about the economy, on Wednesday. The personal consumption expenditure index data for October – the Fed’s preferred inflation gauge – is slated to be released on Thursday. While traders have priced in the chances of a pause in rate hikes in December, they see a nearly 50% chance of at least one 25-basis point rate cut in May 2024, according to the CME FedWatch Tool.
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