• CAD leads, JPY lags on the day
  • European equities higher; S&P 500 futures up 1.2%
  • US 10-year yields flat at 1.783%
  • Gold down 0.1% to $1,846.00
  • WTI up 0.9% to $86.39
  • Bitcoin up 3.3% to $37,810

It was a quiet session for the most part as the market is keeping the focus on the Fed today.

But risk trades are recovering from the uneasiness yesterday, as equities are keeping more optimistic. European indices opened higher before extending gains to around 2% across the board now. Meanwhile, US futures also built on an early advance with S&P 500 futures up 1.2% and Nasdaq futures up 1.8%.

That is keeping the likes of the aussie and loonie more bid while the dollar is trading more mixed across the board currently.

AUD/USD moved up from 0.7160 to 0.7175 while USD/CAD fell from 1.2605 to 1.2560, with the loonie helped by higher oil prices for a second day running now. WTI crude is up 0.9% to $86.39.

The dollar is trading slightly lower against the pound but is holding a light advance against the euro and yen, with EUR/USD down from 1.1310 to 1.1280 and USD/JPY up from 114.00 to 114.20 on the session.

All eyes are on the FOMC meeting later to determine the next steps, so we'll have to see what Powell & co. has to offer.