Wednesday preview: Fed's Powell, JOLTS survey, China factory PMI in focus

The Federal Reserve's decision will be announced at 1900 GMT.

Consensus is for a 25 basis point interest rate hike in the target range for the Fed funds rate to 4.50-4.75%.

The key however will be just how hard policymakers push back on expectations for further hikes, in particular so as to avoid any further easing in financial conditions.

Also due out, at 1500 GMT, is the Department of Labor's closely followed JOLTS labour market survey, alongside the Institute for Supply Management's factory sector Purchasing Managers' Index for January.

A quarter of an hour earlier, S&P Global will release its own US factory PMI referencing that same month.

Factory activity will also be in the spotlight in the People's Republic of China, where overnight Caixin will publish its own PMI.

Investors will be watching to see whether it confirms the rebound in activity seen in the official PMI that was released the day before.

In the euro area on the other hand, markets will be focused, above all, on a preliminary reading for consumer prices in January.

Until recently, consesus had been for price pressures to tick lower in year-on-yyear terms.

On home shores, S&P Global will also publish a final reading for its factory PMI (Preliminary: 46.7).

Ahead of that, at 0700 GMT, Nationwide will release house price figures for January.

Wednesday 01 February

INTERIM DIVIDEND PAYMENT DATE

Johnson Matthey, Mitie Group, United Utilities Group, Workspace Group

QUARTERLY PAYMENT DATE

Mercantile Investment Trust (The)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Construction Spending (US) (15:00)

ISM Manufacturing (US) (15:00)

MBA Mortgage Applications (US) (12:00)

PMI Manufacturing (GER) (08:55)

PMI Manufacturing (EU) (09:00)

Unemployment Rate (EU) (10:00)

Q4

GSK, GSK

FINALS

Glencore , Wynnstay Group

AGMS

Baronsmead Second Venture Trust, Baronsmead Venture Trust, Hyve Group, Imperial Brands , Mustang Energy , Premier Miton Group, Renew Holdings, Schroder Asia Pacific Fund

TRADING ANNOUNCEMENTS

Entain, Gem Diamonds Ltd. (DI), Restore, Virgin Money UK, Vodafone Group

UK ECONOMIC ANNOUNCEMENTS

BRC Shop Price Index (00:01)

PMI Manufacturing (09:30)

FINAL DIVIDEND PAYMENT DATE

Merchants Trust 3.65% Cumulative Preference 1, Witan Investment Trust Plc