LONDON, Nov 28 Reuters Global stocks steadied on Tuesday, underpinned by the conviction among investors that the Federal Reserve will not raise rates again, which kept the dollar at threemonth lows and supported gold above 2,000 an ounce.

Traders will have to weigh up data this week on how the U.S. economy fared in the third quarter, along with a key read of consumer inflation and spending both of which could be instrumental in setting expectations for the timing of the first rate cut.

The MSCI AllWorld index was last steady on the day, still heading for its best month in three years, up 8.5 in November. The dollar , which has lost 3.2 in value against a basket of currencies this month, was up 0.1 around its lowest in three months.

European stocks fell 0.5, driven by losses in pharma and consumer goods companies, while U.S. stock futures were little changed.

The spotlight this week will be on Thursday39;s U.S. October personal consumption expenditures report PCE, which includes core PCE, said to be the Fed39;s preferred measure of inflation, and euro zone consumer inflation figures for further clarity on where prices and monetary policy are headed.

Consumer inflation, as measured by the consumer price index CPI, is running at a rate of 3.2, having dropped from September39;s 3.7, and core PCE, at 3.7 in September, is unlikely to buck that trend. What might give traders more pause for thought is the spending component of the PCE report, according to Lombard Odier…