In the US session New Home Sales data was published, however the focus of the session on FOMC interest rate decision. Sales of new single-family houses in June 2017 were at a seasonally adjusted annual rate of 610,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.8 percent above the revised May rate of 605,000 and is 9.1 percent above the June 2016 estimate of 559,000.

According to the Statement from latest FOMC Meeting, Fed noted that consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, and labor market conditions will strengthen somewhat further. Inflation on a 12-month basis is expected to remain somewhat below 2 percent in the near term but to stabilize around the Committee's 2 percent objective over the medium term.

Near-term risks to the economic outlook appear roughly balanced, but the Committee is monitoring inflation developments closely. In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 1 to 1-1/4 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation.

There will be no major data releases from the UK tomorrow. In the US session Unemployment Claims and Durable Goods Orders figures will be released. Analysts predict increase to 240,000 in unemployment claims and 3.5% increase in durable goods orders.

Figures to watch:

Unemployment Claims (Thursday 14:30)

Durable Goods Orders (Thursday 14:30)