However, the focus of the session was on Fed interest rate decision and the following statement. Federal Reserve policy makers signaled they’re open to raising interest rates in June, nodding to improvement in global financial markets and downplaying recent weakness in the U.S. economy. The Federal Open Market Committee omitted previous language that “global economic and financial developments continue to pose risks,” instead saying officials will “closely monitor” such developments, according to a statement released Wednesday following a two-day meeting in Washington.

The Fed left its benchmark interest rate unchanged. “Labor market conditions have improved further even as growth in economic activity appears to have slowed,” the FOMC said. “Growth in household spending has moderated, although households’ real income has risen at a solid rate and consumer sentiment remains high.” The committee reiterated that it will probably raise rates at a “gradual” pace.

Tomorrow, from Eurozone, Spanish and German CPI and Spanish Unemployment Rate and German Unemployment Change data will be published. Spanish CPI is expected to decrease by 0.7%, while German CPI should fall by 0.2%. As for Spanish Unemployment Rate it should remain steady at 20.9%, while number of unemployed in Germany should rise by 1,000. In the US session Unemployment Claims and GDP figures will be released. Analysts are predicting 0.7% increase in GDP, while Unemployment Claims should increase to 258,000.

Figures to watch:

German Prelim CPI (Thursday)

Spanish Flash CPI (Thursday 09:00)

Spanish Unemployment Rate (Thursday 09:00)

German Unemployment Change (Thursday 09:55)

Unemployment Claims (Thursday 14:30)

Advance GDP (Thursday 14:30)