The market is focused today on the upcoming core PCE inflation data. This is a preferred indicator by the Federal Reserve. Due to delays caused by last fall's government shutdown, this data release covers October and November. If the core PCE data exceeds 0.3%, it will be seen as a hawkish signal delaying a rate cut. A data of 0.1-0.2% would support a more dovish view and retain the possibility of a rate cut. The Fed is currently expected to pause its operations at its next meeting, and the market is pricing in only a 5% probability of a rate cut.