The European markets are expected to start off mixed on Wednesday ahead of the Federal Reserve’s (Fed) minutes from the most recent meeting, which is expected to be released later today. Investors are keeping focused on the minutes from the meeting to get hints about the timing of the scaling back of its asset-purchasing program.
Futures of the pan-European Euro Stoxx 50 rose 0.09% higher at 2,7901.50 just before the market opened, while the German DAX declined 0.02% to 8,296.30 at the same time. Futures for the French CAC 40 gained 0.17% to 4,039.30, while the UK FTSE 100 futures advanced 0.07% higher to 6,437.80.
European Markets – Fed Minutes
The minutes from the Federal Open Market Committee are expected to be released later today, with possible hints as to when the central bank would begin to taper its $85 billion monthly asset-purchasing program.
Earlier this year, the central bank stated that it would begin to scale back on its asset-purchasing program if the world largest economy continues to show further improvement.
A series of economic data were recently released and showed that the US economy have improved, which also points towards a possibility that the Fed may start tapering its asset-purchasing program as early as September.
According to the economic data released, the US economy grew by 1.7% in the second quarter while the unemployment rate dropped to 7.4%, the lowest since 2008.
However, the labour market is yet to show an improvement as the prices have been dropping below the central bank’s 2% target.
The Central bank policymakers are expected to decide to start scaling back on the asset-purchasing program down to $65 billion monthly, with further cuts to follow.
The world’s third largest brewer Heinken reported a positive result with operating profit rising from 5% to €1.45 billion, beating analysts forecast of €1.42 billion. While Danish brewer Carlsberg showed a major decline in its second-quarter profit due to the slow growth in the economy and consumer sentiment, its gains came down to 3.44 billion Danish kroner.
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