FX.co ★ CAC 40 Edges Higher Ahead Of Powell's Testimony

French stock markets saw a minor increase on Wednesday in anticipation of the U.K. Budget announcement and a testimony from Federal Reserve Chair, Jerome Powell.

Jeremy Hunt, the British Finance Minister, is predicted to introduce a government-backed 99 percent mortgage in his spring budget to aid first-time buyers, a move seen as ambitious given the precarious condition of public finances.

Later in the day, Jerome Powell is scheduled to make a statement before the House Financial Services Committee, and similarly, the Senate Banking Committee on Thursday.

Following a 0.3 percent decline in the previous session, the benchmark CAC 40 climbed slightly by 16 points or 0.2 percent, settling at 7,948.

In the Eurozone, bond yields also slightly increased as investors prepared for Thursday's ECB meeting. Not expecting a revision in interest rates, traders will likely focus on the projections for growth and inflation instead.