US session was marked by CPI figures. The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in November on a seasonally adjusted basis. Over the last 12 months, the all items index increased 0.5% before seasonal adjustment. The indexes for energy and food declined in November, offsetting an increase in the index for all items less food and energy and resulting in the seasonally adjusted all items index being unchanged. The food index fell 0.1%, as the index for food at home fell 0.3 percent, with five of the six major grocery store food group indexes declining.
There will be no major data releases from Australia tomorrow so we can expect steadier morning part of the session. In the US session, Building Permits and Housing Starts figures will be published. No significant change compared to last month is forecasted. However, the focus of the session will be on Fed rate decision, with economists anticipating rate hike for the first time in eight years. We can expect a lot of volatility with following Press Conference as well.
Figures to watch:
Building Permits/Housing Starts (Wednesday 14:30)
Federal Funds Rate/FOMC Statement (Wednesday 20:00)
FOMC Press Conference (Wednesday 20:30)
