European stocks advance ahead of BoE, Fed

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - European stock markets advanced for a second day Wednesday as investors gear up for the Fed policy decision and minutes from the Bank of England last meeting.



The Stoxx Europe 600 index rose 0.19% to 347.09, putting the index on track for a 1-week closing high.



Among country-specific indexes, the UK FTSE 100 gained 0.28% ahead of the BOE minutes. The Germany's DAX 30 rose 0.17% and the France’s CAC 40 climbed 0.14%. Italy’s FTSE MIB was up 0.20% while Spain’s IBEX 35 advanced 0.28%.



In the FX market, the USD is advancing supported by solid inflation numbers ahead of the Federal Reserve policy decision.



The Federal Open Market Committee is expected to reduce the pace of monthly asset purchases by $10 billion to $35 billion and will provide a new set of forecasts for unemployment, inflation, economic growth and the benchmark federal funds rate.



As for commodities, gold shed 0.22% to $1269 an ounce, while crude oil was up 0.48% at a $106.87 barrel.



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