Wednesday 26 July 10:15 UK time

During the Asian session AUD CPI came in lower than expected, but stubbornly high inflation in the service sector will keep the pressure on the RBA to keep interest rates high.

Microsoft and Alphabet both reported decent earnings, which is good news but the market may have wanted a little more as both stocks have dropped a little post release

So now it's all eyes on today's fomc meeting and Mr Powells statement and press conference, can he convince the market that the fed will remain hawkish?