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European indices looking for direction after Fed meeting

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European stocks are expected to open cautiously this morning after the Federal Reserve cut interest rates for the third time this year as the corporate season continues to have an effect on the stock markets.

UKX is expected to open about 2 points lower, DAX is up 8 points and CAC 40 is up 4 points.

FOMC announced last night that it was lowering the US base rate by 25 basis points for the third time to support US growth, but removed a key phrase from its report and more specifically "act on the situation", suggesting that the central bank will stop easing monetary policy.

The corporate season is continuing with full force, and today we expect the reports of FCA, Shell, ING, BNP Paribas and Air France KLM.


 Trader Aleksandar Kumanov

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