European markets set to start week higher ahead of Fed, ECB meetings

European stocks are expected to open higher on Monday morning as investors focus on two upcoming monetary policy meetings.

The FTSE 100 is seen 29 points higher at 7,422; the German DAX is set to start up by 19 points at 13,182 and the CAC 40 is seen up by 9 points at 5,410, according to IG.

Central bank policy will be in focus this week with the U.S. Federal Reserve due to start a two-day meeting Tuesday and the European Central Bank due to meet on Thursday. Expectations are that the Fed will raise rates one last time this year. Though the ECB is unlikely to alter its policy, it will announce new economic forecasts for the region.

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In the corporate world, Uber is to argue its right to operate in London in a court on Monday, after Transport for London rejected renewing its operating license. According to Reuters, the German steelmaker Thyssenkrupp is set to discuss with its workers a possible backing for its deal with Tata Steel which will merge their European operations.

In terms of data the calendar is thin, with only Italian retail sales due at 09.00 a.m. London time.

In commodity markets, oil prices fell on Monday morning on higher production in the U.S., which risks efforts from OPEC producers to tighten markets. Brent was 0.25 percent lower, trading at $63.24 a barrel and WTI dropped 0.2 percent, being sold at $57.24 at about 6.30 a.m. London time.