Economic Calendar: Fed interest rate decision 📣

• Indices in Europe open higher
• Fed's interest rate decision in the second half of the day

Today, the main indices in Europe are opening slightly higher, recovering some of yesterday's losses. The markets are mainly waiting for the Fed's decision on interest rates at 7:00 PM BST and the press conference by Chairman Jerome Powell at 7:30 PM BST. Therefore, the markets are likely to behave nervously until that time, awaiting the decision.

A pause in the rate hikes and maintaining the rates in the current range of 5.25-5.50% is almost certain. However, what will be more important for the markets is the message at the conference after the announcement of the decision. Another 0.25 basis point hike remains on the table at the November or December meeting. However, this increase is not yet fully priced in by the market, and the direction Jerome Powell takes could be decisive in this matter.

Detailed calendar of the day:

9:00 AM BST, Poland - macro data for August:

• Industrial production: expected -1.7% y/y; previously -2.7% y/y
• Wages: expected 11.8% y/y; previously 10.4% y/y
• Industrial production prices: expected -2.6% y/y; previously -1.7% y/y

7:00 PM BST, USA - Fed's interest rate decision:

• Rates are expected to remain at the 5.25-5.50% level

7:30 PM BST, USA - Jerome Powell press conference