Ian Stannard Rate Quotations

The PCE deflator will be extremely important today. The market looks at this very much as one of Fed's main indicators. If it's strong the market will not only be looking for a rate hike at this meeting but next time around as well.

The PCE deflator will be extremely important today. If it's strong the market will not only be looking for a rate hike at this meeting but next time around as well.

Speculation regarding a ECB rate hike is likely to start building further, especially coming on top of the more hawkish comments we have been seeing from the ECB officials, so that will be euro supportive,

They've raised their inflation and growth forecasts, which suggests that the ECB thinks the European economy is improving and requires more rate hikes. These comments have helped the euro.

The market is still concerned about the interest rate and whether the Fed is on a possible pause.

The market is now looking for some further rate hikes in the U.S. and that is going to keep the dollar supported in the near-term.