The global markets are anticipating the release of the US Federal Reserve meeting minutes later today, which will carrie with it the details that led to US second straight rate cut this year in addition to clear signes about the future of the policy easing during this year.

By 18:00 GMT, the minutes of the Federal Open Market Committee (FOMC) meeting which was held at September 17-18 will be released, as the meeting saw the second US interest rate cut during this year.

The the benchmark rate cut came after 7 members voted against 3 for a quarter point to between 1.75% and 2.00%, and the bank stated that the cut is due to risks posed by global developments and weak inflation.

Fed Governor Powell, said that the US economy is in an overall good place and labor market is still strong and that rate cuts are a precautionary measure to stimulate growth, noting that the Fed's future decisions will besd on the monitoring of the incoming economic data.

While in case of the meeting minutes showed more-than-expected pessimistic details about the US economy, the odds for further easing of the monetary policy and the future of the US rate cuts will then increase for the next October and December meetings, marking a 4-cut cycle during this year, and the US dollar will be then poised for a sharp downtrend.

But in case of the details are less pessimistic with confirmation of the US economic strength, then odds will shift to the possibility of a third rate cut this year, which is in favour of the US dollar.

Bearing in mind that President Trump has been repeatedly requesting from the Fed and Chairman Jerome Powell for deeper interest rate cuts.

US dollar fell against most of its major counterparts today, to resume its drop after a respite for 2 days, on traders' increased bets that the US Fed would cut rates for the third time during this year, ahead of a speech by the US Fed Chair Jerome Powell, in addition to the release of the recent FOMC meeting minutes.

The dollar index fell by 0.2% to 98.90 points, from the opening of 99.09, with an intraday high of 99.16 points.

The index rose by 0.1% yesterday, its second daily gain, as demand accelerated on the greenback the best current investment in the Forex market amid escalation of the US-China trade tensions.

The US Federal Reserve Chairman Jerome Powell hinted on on Tuesday that the bank is open to further rate cuts and stated that its members will act as appropriate to support current US economic expansion and growth which can be sustained, which increased the market's hopes about the US monetary policy.

These remarks and the continued weak US data increased the odds for the US Fed to cut the interest rates in its next meeting

Additionally, investors are anticipating today another statements by Chairman Jerome Powell for more proof on these odds in addition to the release of the recent Fed meeting minutes.

The US Federal Reserve Governor, Jerome Powell by 15:00 GMT, will deliver a speech in a panel discussion at a Fed Listens event hosted by the Federal Reserve Bank of Kansas City.

By 18:00 GMT, the minutes of the Federal Open Market Committee (FOMC) meeting which was held at September 17-18 will be released, as the meeting saw the second US interest rate cut during this year by 25 basis points to 2.0%.

European stocks opened higher today, to resume their gains which were impeded yesterday for the first session in 4, on increased bets on about a US rate cut after Fed Governor Jerome Powell's recent remarks.

Stoxx Europe 600 was higher by 0.4% as of 10:55 GMT, while it closed yesterday lower by 1.1%, for the first session in 4 on concerns about escalation of the US-China trade war and uncertainty about the UK's exit from the EU (Brexit).

The index opened Wednesday's session higher, to rising rising for the fourth session in the last 5, as most of the major European markets and sectors rose.

The US Federal Reserve Chairman Jerome Powell hinted on on Tuesday that the bank is open to further rate cuts and stated that its members will act as appropriate to support current US economic expansion and growth which can be sustained, which increased the market's hopes about the US monetary policy.

Investors are anticipating today another statements by Chairman Jerome Powell for more proof in addition to the release of the recent Fed meeting minutes, as the meeting saw the second US interest rate cut during this year.

S&P 500 futures gained 0.9%, as it closed lower by 1.6% yesterday at Wall Street, in its second daily loss.

The Euro Stoxx 50 index rose by 0.7%, in France the CAC 40 rose by 0.7%, and Germany's DAX rose by 0.9%. 

While in London the FTSE 100 rose by more than 0.5%, as most stocks took advantage of the continued British pound drop due to Brexit uncertainty.

The British pound fell against US dollar today for the third straight session, near touching its 5-week low, on rising concerns about the Brexit, after several news agencies reported that the ongoing talks between British PM Johnson and Brussels are within sight of of collapsing without pulling off an exit deal.

GBP/USD fell by 0.2% to $1.2197, from the opening of $1.2216, with an intraday high of $1.2226.

Sterling shed 0.6% yesterday, its second daily loss and slumped to 5-week low of $1.2195, on concerns about a chaotic exit from the EU.

According to Downing Street source on Tuesday, German Chancellor Angela Merkel told PM Boris Johnson that his proposals on the Brexit deal are “overwhelmingly unlikely”.

The Eurogroup will meet on Wednesday in Brussels to discuss the European economic policies, and the group may take a decision on the Brexit crisis.

While as the Brexit deadline approaches (in October 31st), concerns mounted over the possibility of the British government and Brussels reaching a Brexit deal to avoid a chaotic exit, which is expected to have serious impacts on the UK's economy.

The Times newspaper also reported that Johnson is facing cabinet revolt in the government as a group of ministers are preparing to resign due to fears that he is leading the country towards a no-deal Brexit.

British PM Boris Johnson insists on implementing the Brexit as scheduled whether with a deal or not "delivering on the will of the people" while the parliament is rejecting that no-deal Brexit scenario.

The British Parliament has passed a legislation last month demanding that Johnson request a postponement for the Brexit until the end of January in case of a no deal, while as it appears Johnson doesn't consent with that legislation so far.