All eyes on FOMC minutes as traders look for signs of reduction in bond buying scheme

<p>All investors’ eyes are on the FOMC meeting minutes which will be released later on in the evening today. The main focus point here is […]</p>

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All investors’ eyes are on the FOMC meeting minutes which will be released later on in the evening today.

The main focus point here is whether the US policy makers will start reducing the bond buying scheme, which is currently at the $85 billion a month level.

The Asian benchmark index declined to its lowest level in six weeks overnight while gold futures traded slightly lower, down 0.36% after 8am. Elsewhere the dollar has appreciated against the euro and pound sterling.

Back to Europe, the major indices did not show any clear trend this morning but all were trading cautiously. After 8am the DAX was down 0.1% at 8289, whilst the CAC opened up 0.4% at 4044.

In the UK the FTSE was trading 0.2% lower after the opening bell at 6441.

Again, we have a major economic event at 7pm today but it is worth following the markets throughout the day as expectations are high.

There is also the existing home sales report from the US at 3pm GMT.

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