US Stocks Mixed Ahead of Pivotal Fed Rate Decision

The US stock market has opened mixed ahead of the Federal Reserve's interest rate decision later today. Lower oil prices have brought some relief, but risk appetite remains limited due to elevated Treasury yields and ongoing hostilities in the Middle East.

The Fed is expected to hike interest rates by 25 basis points to 3.75%-4%, a move that is almost 93% priced in. The focus will be on whether policymakers validate expectations of a second rate hike this year, and Federal Reserve Chair Kevin Warsh's comments will be closely watched.

Currency markets are also being influenced by the impending Fed decision, with the USD rising to a two-week high ahead of stronger-than-expected retail sales data. The EUR/USD is falling amid a stronger dollar, while GBP/USD is under pressure after UK inflation rose to 3.1% year on year in August.