The Fed's two-day monetary policy meeting will start on Tuesday morning and end on Wednesday at 14.00 CET.
The US dollar, as measured by the ICE US Dollar Index, has risen by 0.1% and yields on ten-year US government bonds have barely changed at 2.0510%.
The central bank is expected to cut interest rates by the end of the year a quarter of a percentage point. That was expected and priced in for weeks. The market reaction could be much more driven by the forward leadership and speech of Fed Chairman Jerome Powell. Market participants will look for clues as to whether there will be further interest rate cuts in the future, possibly as early as September.
President Donald Trump told reporters that the Fed should have acted earlier, according to CNBC, to cut interest rates and boost the economy. Trump also said the Dow would be 1
With the Fed a key driver of the recent rally, the Fed's interest rate decision overshadows everything else this week.  US and Chinese sales agents meet in Shanghai today, though the market has little hope for the bottom line. President Donald Trump tweeted earlier that China was "very bad" and did not buy the promised US agricultural products.
"That's the problem with China, they just can not get through," he wrote.