US PPI set to kick off Fed day

<p>Happy Fed day.</p><p>The second day of the FOMC meeting starts at 10 am ET and will conclude with a decision at 2 pm ET and a press conference 30 minutes afterwards.</p><p>Before that we get the November PPI report. With CPI already released yesterday, this report is downgraded to an afterthought but could still spark market moves with a surprise miss.</p><ul><li>Headline expected up 0.1% m/m and 1.0% y/y</li><li>Ex food and energy expected up 0.2% m/m and +2.2% y/y</li></ul><p>Then at 10:30 am ET, the weekly oil inventory data is out.</p>

This article was written by Adam Button at www.forexlive.com.