Asia has shrugged off a mixed close at the close of the US session. The major US equity indices were initially heading north until Trump reiterated comments that his administration will not tolerate abuse on trade. Asian markets traded mostly positive this morning.

As the Fed conculdes it 2-day policy deliberations, market’s focus will likely go keeping a watchful eye on the outlook of economic growth and any impact coming out of the US-China ongoing trade dispute.

Ahead of the FOMC the USD has remained in negative territory although on the daily chart moves have remained very much contained and within a tight range so far this morning.

The USD has been on the downtrend since it had attained 2018’s highs on the 15th August. The US Dollar index, an index gauging the strength of the USD against a basket of other currencies, has so far contained price moves lower just above the 93.70 region, which level has given support at least since July.

Later this evening the limelight shall go to the FOMC rate decision and the post-event press conference that will be held by Fed’s Powell. Later in the evening the RBNZ will announce its latest official cash rate.