NextGen Day

On Tuesday, global stock markets maintained their gains on the back of solid third-quarter profits ahead of the US Federal Reserve’s (Fed) Open Market Committee meeting on Wednesday.

Analysts believe the Fed will begin lowering its $120 billion in monthly asset purchases at the end of its two-day meeting on Wednesday, but that expectations will be shaped by the wording of the decision and words made by Fed Chair Jerome Powell.

According to them, the “wait-and-see” theme dominated the financial markets on Tuesday ahead of the verdict.

Meanwhile, concerns about the high pace of inflation are still on the table.

The rising number of instances of coronavirus disease 2019 (Covid-19) and the likelihood of default in China’s real estate industry will spread to other sectors, putting pressure on Asian financial markets.

The minutes of the Bank of Japan’s (BoJ) meeting last week revealed on Tuesday that bank members addressed the future of the pandemic-related assistance programs.

The manufacturing purchasing managers’ index (PMI) statistics for the Eurozone and Germany for October will be released on Tuesday by London-based data source IHS Markit.

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