Wednesday is shaping up to be relatively quiet in terms of macroeconomic releases . The morning brought mainly data from Sweden and Germany — Swedish inflation came in below expectations, while German industrial production surprised to the upside. Later in the day, attention will focus primarily on US EIA fuel inventory data and the evening FOMC minutes , which may provide further clues about the Fed’s policy stance. Despite the light calendar, market volatility may remain elevated due to developments in the Middle East and the oil market , while the US dollar remains sensitive to changes in expectations for Fed policy.

• 05:30 AM GMT, India, interest rate decision : 5.50%, expected 5.50%, previous 5.25%
• 07:00 AM GMT, Sweden, CPI inflation (YoY), September: 1.2%, expected 1.3%, previous 0.3%
• 07:00 AM GMT, Sweden, CPI inflation (MoM), September: 0.9%, expected 1.0%, previous -0.3%
• 07:00 AM GMT , Germany, industrial production (MoM) , August: 2.0%, expected 0.5%, previous -1.2%
• 07:00 AM GMT , Germany, industrial production (YoY), August: 2.3%, previous -1.8%
• 07:45 AM GMT, France, trade balance, August: expected -€6.5bn, previous -€6.67bn
• 12:00 PM GMT, US, mortgage applications: previous -6.0%
• 03:30 PM GMT, US, crude oil inventory change: expected +1.7mn barrels, previous +0.92mn
• 03:30 PM GMT, US, gasoline inventory change: expected -1.7mn barrels, previous -1.68mn
• 03:30 PM GMT, US, distillate inventory change: expected -2.1mn barrels, previous -2.25mn
• 07:00 PM GMT, US, minutes from the September FOMC meeting
• 08:00 PM GMT, US, consumer credit, August : expected $15.2bn, previous $18.06bn