Futures Slide as Wall Street Opening Approaches, Eyes on Inflation Data

Forex - Stock index futures on Wall Street are exhibiting a downward trend ahead of inflation data, which is expected to provide more clarity on the pace of the Fed's interest rate cuts. The Dow Jones Industrial Average futures are down 0.23%, Nasdaq 100 futures are down 0.24%, and S&P 500 futures are down 0.18%.

Deutsche Bank analysts stated, "The October CPI data to be released in the US will be a key factor in the Fed's decision next month. There are speculations that the Fed may skip this meeting and not proceed with any cuts, making this data particularly important this time."

According to CME FedWatch, investors view the probability of a 25 basis point rate cut at the Fed's December meeting as 58.7%, while the October consumer price index figures will be closely monitored to assess whether inflationary pressures are easing or not. Economists predict that core inflation will increase by 0.3% on a monthly basis, while headline inflation is expected to rise by 0.2%. CPI data will be released at 16:30 GMT.