London (CNN Business) 1. Waiting for the Fed: Attention this week remains squarely focused on the Federal Reserve.

The US central bank kicks off its June meeting on Tuesday. Its rate decision and press conference follow on Wednesday.

Investors want a clear signal from Chair Jerome Powell, who said two weeks ago that the Fed would act as appropriate to sustain the economic expansion in the United States.

That triggered a stock rally — though markets are now clamoring for more specifics. Expectations for a rate cut in July are now at 86%, according to the CME's FedWatch tool.

It's clear that central banks are leaning toward looser monetary policy.