European stocks are seen opening on a tepid note Wednesday, as investors await Fed Chair Jerome Powell's second day of testimony on Capitol Hill.
U.S. reports on private sector employment, job openings and the Fed's Beige Book survey results may also offer additional clues on the economic and rate outlook. The non-farm payrolls report due on Friday is another pivot point for markets.
The Fed's next monetary policy meeting is scheduled for March 21-22, with CME Group's FedWatch Tool currently indicating a 70.5 percent chance of 50 basis point rate increase.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.