Ammon News - Market participants now await the Federal Open Market Committee’s meeting on US interest rates and the Personal Consumption Expenditures (PCE) data due next week.
The US central bank tracks the PCE price measures for its 2% inflation target.
According to the CME’s FedWatch Tool, traders are pricing in a 16% chance of a rate hike this month and a 92% chance of an increase in December.
Elsewhere, the European Central Bank is likely to raise interest rates by 25 basis points at least one more time this year to fight inflationary pressures, the International Monetary Fund said on Friday.
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