ChainCatcher Message, Michael Brown, Senior Research Strategist at Pepperstone, stated in a report that the U.S. November CPI data to be released tonight is unlikely to materially change the recent outlook for Federal Reserve policy. A 25 basis point rate cut next week seems certain, with the labor market rather than price pressures being the main determinant for the current policy shift.

Economists surveyed by The Wall Street Journal expect the overall CPI in November to accelerate to a year-on-year increase of 2.7%, up from 2.6% in October, while the core CPI year-on-year increase is expected to remain unchanged at 3.3%.