Key Global Events

Today is FED day. This evening at 8:00 pm the market mover of the week will be published. At 8:30 p.m., U.S. central bank President Jerome Powell will hold a press conference after the publication of the rate hike decision. In the conference Powell will analyze the data published yesterday on inflation and the moves the Fed will have to make to reach its 2 % target. Investors will have to try to figure out from Powell's words what might happen in September, whether there will be the first cuts or it will continue with hawkish actions.

FED funds are betting 99% on interest rate hike this evening.

Meta's quarterly reports will be released this evening. Yesterday markets closed.
Alphabet and Microsoft both beat analysts' expectations. 

Mixed start for European stock markets this morning. Milan's FTSE MIB +0.41%, Paris' CAC -0.66%, Madrid's IBEX +0.30%, London's FTSE -0.05%. Wall Street futures also trade mixed in anticipation of macro data due out this afternoon. Dow Jones -0.04%, S&P500 +0.09% and Nasdaq +0.15%.

Forex & Commodities

The euro and sterling trade mixed against the greenback. EURUSD trades around 1.1061 (+0.09%). GBPUSD cross gives up 0.09% and trades around 1.2889. Among commodities, oil remains below $80 per barrel (-0.39%). Gold trades around $170 an ounce (+0.35%).

Index

Asian stock markets traded mixed. Tokyo's benchmark Nikkei 225 index closes at parity at 0.01%. China's Hang Seng index after rallying yesterday gives up -0.26%.

Global Macroeconomic Data
USA - US Building Permits will be released at 2:30 pm. Permits expected to decline to 1.440 million. At 4:30 p.m. Crude Oil Inventories will be released, expected to decline to -2,400 million barrels. At 8 p.m., the market mover of the week. The FOMC decision on the rate hike and Powell's subsequent press conference will be announced.