Danske Bank analysts suggest that today's main event is the FOMC meeting tonight; however, the Fed has stated that it is on hold, so they are expecting it to keep the target range unchanged at 2.25-2.50%.

“Moreover, we get the ISM manufacturing in the US and UK. We still expect US manufacturing to have peaked and to move slightly lower before stabilising (still above 50). Based on a weighted average of the regional PMIs, we expect numbers to come in at 55.0 (currently 55.3).”