The main focus of the market early this morning was on the results of the latest FOMC meeting that was eagerly awaited this week.
As expected, the Federal Reserve (Fed) kept interest rates unchanged at 4.25%-4.50% with policymakers signaling that they expect the lending rate to be cut by 50% by the end of this year.
Attention is paid to the follow-up statement delivered by Chairman Jerome Powell for the further direction of monetary policy.
Explaining the action to keep interest rates on hold, he stated that uncertainty in the economic outlook is increasing.
Meeting members will carefully evaluate the latest economic data to ensure that the objectives of full employment and 2% inflation can be achieved.
In addition, meeting members will slow down the reduction of securities holdings by reducing the monthly redemption limit on Treasurys from $25 billion to $5 billion starting in April, which is seen as a quantitative tightening measure (tapering).
Economic growth projections were also lowered due to concerns over President Donald Trump's administration policies, especially the current tariff war issue, which could affect the assessment of future employment and inflation.
Impact on financial markets, the US dollar was seen to experience depreciation and move weakly to end trading in the New York session.
After the Bank of Japan (BOJ) and Fed decisions are known, the market will turn to the Swiss National Bank (SNB) and Bank of England (BOE) policy meetings today.
The SNB is expected to lower interest rates by 25 basis points from 0.50% to 0.25% while the BOE is expected to maintain interest rates at 4.50%.
In the Asian session, investors first examined the Australian jobs report published for the February reading and the impact on the Aussie dollar movement.
In addition, the UK jobs report will also follow at the beginning of the London session this afternoon.
