European stocks head for higher open as markets prepare for Fed update

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European stocks are expected to open higher on Wednesday as global investors await the outcome of the latest meeting of the U.S. Federal Reserve.

Top of the agenda for investors on Wednesday is the conclusion of the U.S. Federal Reserve's highly anticipated September meeting with investors looking out for any indications about the Fed's tapering of its easy monetary policy.

The Fed will release a policy statement with economic and interest rate forecasts, then Chairman Jerome Powell is expected to speak to the media at 2:30 p.m. ET. Powell has said previously that tapering could occur this year, but investors are waiting for more details, particularly after mixed economic data released since Powell's last comments.

Investor sentiment may have been soothed on Wednesday after Evergrande unit Hengda announced it will make a coupon payment on its domestic bonds on Thursday. Still, questions remain over whether the interest onThat could be the reason behind caution in the U.S. and Asia-Pacific markets overnight; U.S. stock futures opened slightly lower Tuesday night

, which reopened for trade on Wednesday after a two-day holiday. Markets in mainland China fell more than 1% on Wednesday's open before bouncing back slightly.Key data releases also on the agenda for Europe include flash consumer confidence data for the euro zone in September, Italian industrial sales figures for July and Dutch consumer spending numbers for July. There are no major earnings releases Wednesday.

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