With the Fed’s hint of March rate-hike, global markets keep their eyes on the upcoming key inflation gauge for the US Federal Reserve (Fed), namely US Core Personal Consumption Expenditure Price Index, for fresh impulse.

Early signal for the same, namely the US inflation expectations, as measured by the 10-year breakeven inflation rate per the St. Louis Federal Reserve (FRED) data, recovered from the weekly low of 2.38% to 2.40% by the end of Thursday’s North American trading session.

It’s worth noting that the inflation gauge dropped to the lowest level last seen during last September during the previous week before bouncing off 2.33%.

That said, the US Core PCE Price Index figure for December is expected to rise to 4.8% YoY from 4.7% previous reading during today’s US session. The same is likely to bolster the Fed’s hawkish view and can help the US dollar to extend the latest run-up.

Read: US PCE Inflation Preview: Dollar rally has more legs to run