Economic data from the U.S. this week will be dominated by the second revised GDP for the third quarter and the core PCE data.

These two data points will be important for the U.S. dollar as the markets head closer to the December FOMC meeting.

Economic data from the U.S. has remained broadly positive supporting the expectations of a rate hike from the Federal Reserve this December.

The first revised GDP for the third quarter

The second revised estimate on the GDP is forecast to show that the U.S. economy might have increased at a pace of 3.2% during the third quarter.

During the first revision, economists were expecting to see growth slowing.

However, the 3.0% increase was a surprise with the data showing that the U.S. economy remained resilient despite the hurricanes that impacted the economy briefly in September.

Later in the week, the U.S. core PCE data and the monthly ISM manufacturing index data will be released.

The core PCE data, which is a measure of inflation, will stand out as the final data point for the Fed.

A broadly stable inflation figures will cement expectations for a December rate hike.