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(Sharecast News) - Wednesday sees the release of full-year results from electricals retailer AO World and Speedy Hire, as well as the latest policy announcement from the US Federal Reserve.
The Fed is expected to keep the policy rate steady at 3.50%-3.75% at what will be Kevin Warsh's first meeting as chair.
Kathleen Brooks, research director at XTB, said: "He is not a fan of forward guidance, so how will he direct markets about the Fed's current stance on monetary policy? With a strong economic backdrop and CPI above 4%, it does not leave the Fed with much room to manoeuvre.
"Warsh may not be able to avoid President Trump's ire, as we do not expect him to signal that rate cuts are coming, instead we expect a prolonged pause from the Federal Reserve in the coming months."
Neil Wilson, UK investor strategist at Saxo Markets, said: "We don't know exactly how mew chair Kevin Warsh is going to run things but do know that inflation is rising and the labour market remains incredibly robust.
"Complicating the picture for the Fed, inflation is on the rise: US PPI came in at 1.1% on the month, putting the 12-month inflation rate at 6.5%, while CPI inflation rose to 4.2% year-on-year, its highest in three years."
On home shores, the UK consumer price index and producer price index for May are due at 0700 BST.
Dan Coatsworth, head of markets at AJ Bell, said the figures "may reveal the extent to which the Iran war has already unleashed inflationary pressures, even with an apparent resolution to the conflict".
"Getting existing inflation under control could still be a major challenge," he said.
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