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31FX Blog

Europe Stocks Set to Higher on Wednesday; FOMC Minutes Ahead

31FX – European stock markets are set to open higher on Wednesday, FOMC Minutes ahead, Gold futures and US Crude is what we should look out today.

The DAX futures contract in Germany traded 0.9% higher. France’s CAC 40 futures were up 0.7%, while the FTSE 100 futures contract in the UK rose 0.3%.

In the U.S. the tech-heavy Nasdaq Composite index has posted an all-time high and the broader-based S&P 500 briefly traded in positive territory for the year as a whole.

With this in mind, investors will be keeping a keen eye on the Federal Reserve as the U.S. central bank concludes its policy meeting later in the day.

Oil prices sold off Wednesday, weighed by the American Petroleum Institute’s surprise estimate of an 8.4-million-barrel build for the week ended June 5 late Tuesday.

At 2:00 AM ET, U.S. crude futures traded 1.5% lower at $38.37 a barrel. The international benchmark Brent contract fell 1% to $40.76.

Gold futures rose 0.2% to $1,725.25/oz, while EUR/USD traded at 1.1364, up 0.2%.

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