Europe stocks were seen trading flat on Tuesday ahead of the highly-anticipated Federal Reserve’s (Fed) meeting, with analysts expecting an announcement of the scale-back of the bank’s asset-purchasing program. The meeting is expected to start later in the day.
Futures of the European Euro Stoxx 50 dropped 0.07% lower at 2,874.50 at the time of writing, while futures for the German DAX lost 0.09% to 8,608.30 at the same time. Futures for the French CAC 40 declined 0.09% to 4,138.80 and the UK FTSE futures edged 0.15% lower to 6,582.50.
The Federal Reserve’s (Fed) two-day meeting is expected to start later today. Investors and Analysts are focused closely to pick up any hints on when the central bank will begin to scale-back its $85 billion monthly asset-purchasing program. Analysts are expecting the Fed’s meeting to announce a $10-billion scale-back on its current monthly stimulus program.
Markets are still mixed on the issue, however some economists predict the Fed will postpone its decision until December.
In Europe, the ZEW German Economic Sentiment index for September is expected to show an improvement in the region’s economy. Analysts are predicting a rise from last month’s reading of 42 point to 45 points. The ZEW is expected to show a rise to 20 points from the previous recorded 18.3.
The ZEW Economic sentiment for the Eurozone as whole is expected to show a rise to 47.2 points in September.
July’s current account data for the Eurozone as whole is expected to show a seasonally-adjusted surplus of €18.3 billion, up from June’s recorded €16.9 billion.
Meanwhile in Spain, the government is expected to auction Treasury bills maturing in 6 and 12 months to raise a target of €4.5 billion.
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