India, Aug. 29 -- Market spotlight is again on the Fed's monetary policy as markets brace for the PCE-based inflation update from the U.S, considered to be the Fed's preferred price gauge. In data to be released on Friday morning, the U.S Bureau of Economic Analysis is expected to show year-on-year PCE price index remaining steady at 2.6 percent in July. The core component thereof is seen edging up to the 5-month high of 2.9 percent from 2.8 percent in June. The month-on-month PCE price index is seen edging down to 0.2 percent from 0.3 percent in June. The core component thereof is however seen steady at 0.3 percent.
Wall Street Futures are trading way below the flatline. Benchmarks in Europe are trading with losses amidst larger-than-expe...