Global markets focused on the U.S. Federal Reserve’s interest rate decision.

Investors are gearing up for the first Fed rate hike since 2018. The U.S. central bank will announce its interest rate decision at 21:00 today. Jerome Powell will appear before the press at 21:30. Whether Fed members agree with swap market traders, who are expecting rate hikes seven times this year, will be revealed with these estimates.

While an increase in volatility originating from Russia-Ukraine and the Fed is expected, recovery was observed in Asia today, led by Chinese technology stocks. Hong Kong Hang Seng led the rise. The rise in the Hang Seng technology index exceeded 10 percent.

U.S. stock futures are calm before the Fed. Nasdaq 100 futures are flat, while S&P 500 futures are trading down 0.2 percent.

The offshore yuan rose 0.1% against the dollar on news that Saudi Arabia may accept yuan from China on oil trade.