GLOBAL MARKETS - European markets set for lower open
Istanbul, September 18 (Hibya)—European markets were headed for a lower open on Wednesday as investors considered key data from the region and considered the U.S. Federal Reserve interest rate decision.
The U.K.’s FTSE 100 was last set to open down around 21 points 8,298 points, Germany’s DAX was on track to fall by around 30 points to 18,702, while France’s CAC was set to dip by around 10 points to 7,483. Italy’s FTSE MIB meanwhile was set to fall by around 39 points to 33,784.
The pan-European Stoxx 600 index had closed higher on Tuesday.
The Fed is all but guaranteed to announce an interest rate cut on Wednesday, which would be its first since it started hiking rates in March 2022.
Traders are however split about the magnitude of the cut. Chances of a 50-basis-point reduction have been rising in recent days and last stood at 65 percent according to CME Group’s FedWatch tool.
U.S. stock futures were little changed ahead of the Fed decision. Asia-Pacific markets were meanwhile mixed on Wednesday.
Back in Europe, the final reading of euro zone inflation figures for August is also due.
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