The Fed's rate-setting committee is scheduled to meet later this week as Trump continues to push for looser monetary policy.

U.S. President Donald Trump on Monday again called on the Federal Reserve to cut interest rates, saying it would help propel the U.S. economy. "I think he has to," Trump, speaking alongside British Prime Minister Keir Starmer following their meeting in Scotland,

The Fed’s favored inflation gauge, from the personal consumption expenditures basket, is due for release on Friday, and the annual core rate excluding food and energy is expected to be 2.7 per cent - the same as last month.