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The U.S. Federal Reserve is set to announce its policy decision, which will likely be a 25-basis point cut in the benchmark interest rate. Currently, the federal fund's target range is at 4.5%–4.75%. This will be the final meeting of the central bankers for the year and investors will keenly await their guidance for the upcoming year.

On the U.S. economic radar are the country's current account and housing data. The country is projected to post a current account deficit of $284 billion for the third quarter, up from a deficit of $266.8 billion reported in the previous quarter. Separately, single-family housing starts likely rose to a seasonally adjusted annual rate of 1.343 million units last month from 1.311 million units posted in October, the Commerce Department is scheduled to report. Meanwhile, building permits is forecast to have increased to a rate of 1.430 million units from 1.419 million units.

Cheerios maker General Mills is expected to post a decline in second-quarter revenue, hurt by weaker demand for its breakfast cereals, snack bars and pet foods. Investors will look out for comments on demand, pricing actions, the impact of input costs, comments on the impact of recent acquisition and annual forecasts.

Birkenstock is expected to post a rise in fourth-quarter revenue as consumers shop for the German sandal maker's pricey sandals. Investors will watch out for spending trends during the holidays and the company's expectations for 2025.

In Latin America, Argentina is forecast to post a trade surplus of $700 million in November, down from $888 million reported in the previous month.

(Reporting by Ananya Roy in Bengaluru; Editing by Vijay Kishore)

((Ananya.Roy@thomsonreuters.com;))