Inflation is the key metric for the Federal Reserve right now and their preferred measure of prices is coming up next. The PCE report is due at the bottom of the hour and core inflation is expected to rise 5.1% y/y and 0.5% m/m. The market will be looking for any signs of acceleration or deceleration in prices.
Along with that report, we will get durable goods orders for January. The consensus there is a 0.8% rise on the headline and +0.5% on capital goods orders non-defense ex-air. The sector will probably get a free pass on a miss because of omicron.
Other data includes the final Feb UMich consumer sentiment survey and January US pending home sales data. There are no Fed speakers on the agenda and we're one week away from the communication blackout ahead of the March meeting.
For more, see the economic calendar.
