• The core Personal Consumption Expenditures Price Index is expected to rise 0.3% MoM and 2.8% YoY in October.
• Markets are undecided on whether the Fed will lower the policy rate by 25 basis points at the next policy meeting.
• Annual PCE inflation is forecast to edge higher to 2.3% from 2.1% in October.

The United States Bureau of Economic Analysis (BEA) is set to release the Personal Consumption Expenditures (PCE) Price Index data for October on Wednesday at 13:30 GMT. This index is the Federal Reserve’s preferred measure of inflation.

Although PCE inflation data is usually seen as a big market-mover, this time it might be difficult to assess its impact on the US Dollar’s (USD) valuation. With the US entering the Thanksgiving holiday on Thursday, other macroeconomic data –such as the weekly Initial Jobless Claims, October Durable Goods Orders and the second estimate of the third-quarter Gross Domestic Product (GDP)– will be released alongside the PCE inflation figures.