Wednesday will be a very busy and important day for traders with the afternoon session to be dominated by the latest US Federal Reserve Minutes announcement. Today's publication follows on from yesterday's surprise increase in inflation when the Bureau of Labor Statistics published data that showed that the CPI measure had risen to 0.4%. The markets had been expecting 0.3%. The news that the pace of inflation growth has increased will have investors monitoring today's minutes for indications that the FOMC will now adopt a more hawkish interest rate policy.

In other news, the mornings data driven events begin in the UK where the latest employment data is to be announced. The publications that will be made available include Average Earnings, Claimant Count Change, and the Unemployment Rate.

Back to the US, before the Fed release of its Minutes, the weekly Crude Oil inventories data is to be made available.