Wednesday’s headlines will likely be dominated by events in the US, where the release of the minutes from the last Federal Open Market Committee (FOMC) meeting will attract the attention of investors.
Last month, the Federal Reserve chose to hike interest rates, and speculators will be looking for clues as to when the next rise may be.
Investec said: “Mid-week we see the release of the minutes from the FOMC’s December meeting, which will hopefully provide more colour on the committee’s view on the meaning of ‘gradual’ (with respect to the pace of tightening).”
While the committees decision was unanimous, investors will likely look at the topics of discussion around which views differed, for example the impact of recent global events on its inflation expectations.
On the corporate front, Topps Tiles will update the market on Wednesday.
In its final results for the year to September, the firm beat expectations and said it had made a strong start to the New Year, something investors will hope has continued.
Significant announcements expected:
Trading update: Topps Tiles (LON:TPT)
Economic: UK – PMI services index; Eurozone – PMI composite, PPI; US – Federal Reserve minutes, employment report, PMI services index, factory orders,