Later in the day, the U.S. Federal Reserve concludes a two-day policy meeting, the first since adopting a more tolerant stance on inflation in August.
Investors will be looking at any clues on how the Fed has started its "Average Inflation Targeting.” As the central bank needs to show full AIT commitment, chances are the Fed will once again increase its QE programs.
Of course, more QE, more buying in the equity markets, and more selling of the US dollar. Therefore, if the Fed does not disappoint, we could see a rally in stocks and precious metals, while the greenback is expected to decline after the decision in this case.
The central bank decisions will continue on Thursday with the Bank of Japan and Bank of England deciding about their respective monetary policies. However, no changes are expected there.
Precious metals are once again trying to climb higher, and gold was seen at 1,960 USD at the last check, with silver rising above 27.30 USD.