All eyes on the US Federal Reserve tomorrow

It was a very quiet day for US in terms of data releases on Monday, with no significant figures released. And with just the Consumer Confidence release due out today – which is expected to show a small increase – attention will turn to Wednesday’s US Federal Reserve Statement and the interest rate decision. The expectation is that the central bank will keep rates on hold, but it will be the comments after that may dictate market movements, as some members may view a short-term interest rate hike as a negative due to the recent poor data.