Preview: What to look for in the April US PCE inflation report ...Middle East

Tomorrow we will find out just how nervous financial markets are about inflation.The key number of the week comes at 8:30 am ET with the release of core PCE. The consensus is +0.3% m/m but it's on the razor's edge as all estimates are nearly-evenly split between +0.2% and +0.3% with the average at +0.25%. Take that as downward bias to the headline though many in the market will have already priced it in (or maybe I'm overestimating the market).Other inflation numbers to watch:PCE core year-over-year expected at 2.8%, the same as last monthPCE expected at 0.3% m/m and 2.7% y/yThe focus is going to be on core and in particularly core services ex-housing but don't discount the headline number.

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