"Investors continued their policy vigil with the Federal Reserve set to end its two-day meeting on Wednesday, while the European Central Bank meets on Thursday.JPMorgan Economist David Hensley suspects the Fed will revise up its growth forecast while trimming the outlook for the unemployment rate, potentially adding upside risk to the "dot plot" forecasts on interest rates. "The dot plot previously called for three hikes in 2018; it is a close call whether this moves to four hikes," he warned, a shift that would likely boost the dollar but could bludgeon bonds. "For its part, the European Central Bank (ECB)is likely to emphasize its low-for-long stance and continue to distance itself from the Fed," he added. "The staff is likely to revise up its 2018 growth forecast, while we think the core inflation forecast will reveal an even slower recovery than before. U.S. crude futures were off 2 cents in early trade at $57.97 a barrel.

Source: The Star December 12, 2017 00:00 UTC