FXStreet (Delhi) – Research Team at Danske Bank, suggests that in the US, focus this week will be on PCE inflation figures for October due on Wednesday. Key Quotes “In September, PCE core only increased by 0.1 % m/m. Since the service sector is in good shape and we are almost at full employment, we expect wage inflation to continue to increase, implying higher underlying inflation pressure. Note that the CPI core inflation has long been above the PCE core, making room for convergence in the two measures.” “Due on Tuesday is the second release of Q3 GDP. Consensus is for an upward revision from 1.5 to 2.0 % q/q AR. Positive figures released after the first release speak in favour of an upward revision. Although the economy slowed in Q3, our view is that the economic recovery remains on track.” “On Wednesday, we will get the durable goods orders for October. Consensus is for a slight increase following the decrease in September of 1.2 % m/m. However, note that durable goods orders are very volatile on a monthly basis. Looking at the recent trend, durable goods orders have more or less been constant over the past two years, reflecting that the manufacturing sector is suffering from the strong USD and the slowdown in manufacturing globally.” “Preliminary manufacturing PMI for November is due out on Monday. The index rose to 54.1 in October and continued to be well above the manufacturing ISM index, which turned out to be 50.1 in October. The question is whether we will continue to see a gap between the two indicators. Preliminary service PMI for November is due on Wednesday and we expect it to support our view of a service sector in good shape.” “The Fed’s John Williams (neutral, 2015 voter) is due to discuss monetary policy on Saturday.” For more information, read our latest forex news.