In Asian Equity Markets stocks were subdued on Wednesday with investors wary of any hint of hawkishness from the U.S. Federal Reserve given lofty asset valuations rely so heavily on an endless supply of super-cheap money. A looming data dump on Chinese retail sales and industrial production offered another reason for caution, with some modest slowdown in annual growth expected. MSCI’s broadest index of Asia-Pacific shares outside Japan barely moved, while Chinese blue chips fell 0.3 percent. Japan’s Nikkei eased 0.2 percent, while South Korean stocks rose 0.6 percent.

In Currency Markets the dollar held near a one-month high against a basket of currencies on Wednesday as investors tried to ascertain if the Federal Reserve might alter the language on its stimulus following a recent rise in U.S. inflation. The dollar index stood at 90.528. The euro stood at $1.2126, little changed on the day but struggling to recover from its fall last week after the European Central Bank pledged to keep stimulus steady over the summer. The yen was flat at 110.08 yen per dollar, while British pound last stood at $1.4085.

In US Equity Markets main indices closed lower on Tuesday as data showing stronger inflation and weaker U.S. retail sales in May spooked already-jittery investors awaiting the results of the Federal Reserve’s latest policy meeting. The Dow fell 0.27 percent, to 34,299.33, the S&P 500 lost 0.20 percent, to 4,246.59 and the Nasdaq Composite fell 0.71 percent, to 14,072.86. In corporate news, Boeing Co gained 0.6 percent after the United States and the European Union agreed on a truce in their 17-year conflict over aircraft subsidies involving the planemaker and its rival Airbus.

In Commodities Markets oil prices saw their highest levels since 2019 on Tuesday on the expected surge in demand. Brent crude was up 1.78 percent, at $74.16 a barrel. U.S. crude was last up 1.99 percent, at $72.29 per barrel. Gold fell on Tuesday as the dollar firmed and as markets weighed the chances that the U.S. Federal Reserve this week may signal an eventual easing of stimulus. Spot gold fell 0.5 percent to $1,855.99 per ounce. Elsewhere, silver shed 0.8 percent to $27.62 per ounce, platinum fell 1.4 percent, to $1,148.37 and palladium rose 0.2 percent to $2,757.65.

In European Equity Markets stocks rose for an eighth straight session on Tuesday, driven by optimism over an economic recovery this year, but gains were limited as investors hunkered down ahead of the Federal Reserve’s two-day policy meeting. The pan-European STOXX 600 ended 0.1 percent higher at a record closing high of 458.81 points. Germany’s DAX ended just below all-time highs as data showed consumer prices rose 0.5 percent month-on-month in May, in line with economists’ expectations. London’s FTSE 100 gained 0.4 percent.

In Bond Markets U.S. Treasury yields were steady on Tuesday ahead of the conclusion of the Federal Reserve’s two-day meeting on Wednesday, which will be watched for any signals on when the U.S. central bank is likely to begin paring its massive bond purchase program. Data on Tuesday showed U.S. retail sales fell more than expected in May, while producer prices rose by 6.6 percent year-over-year during the month, the largest gain since November 2010. Benchmark 10-year yields were little changed on the day at 1.499 percent. They fell to a three-month low of 1.428 percent on Friday.