European markets opened higher this morning ahead of the FOMC statement

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The European markets opened higher this morning ahead of the FOMC statement expected today. But just after 9am they were already trading lower with FTSE at 6574 and DAX at 8616.

Gold price dropped slightly to 1305 while US October Crude Oil gained almost 1%.

In the UK, Barclays has gone ex-rights this morning. Ordinary shares were trading down by 6% after the opening bell but including the rights, Barclays is valued up by 6% at the moment.

Moving to Lloyds, the government has sold its 6% stake at a price of 75pence. Lloyds share value was moderately up by 1.25%.

This evening, the FOMC statement will be released at 7pm followed by Press conference at 7.30. The expectations are that the asset purchase scheme will be reduced by 5-10 billion USD per month, from current $85billion figure.

Whatever the outcome will be, we can certainly expect volatility across the markets after the announcement.

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