GLOBAL MARKETS-Stocks hold firm as dollar dithers ahead of US data

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Jun 17, 2007
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Global stocks steadied on Tuesday, underpinned by the conviction among investors that the Federal Reserve will not raise rates again, which kept the dollar at three-month lows and supported gold above $2,000 an ounce. Traders will have to weigh up data this week on how the U.S. economy fared in the third quarter, along with a key read of consumer inflation and spending - both of which could be instrumental in setting expectations for the timing of the first rate cut. The spotlight this week will be on Thursday's U.S. October personal consumption expenditures report (PCE), which includes core PCE, said to be the Fed's preferred measure of inflation, and euro zone consumer inflation figures - giving further clarity on where prices and monetary policy are headed.
 
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