Markets in the Asia-Pacific region traded mixed today, following a subdued lead from Wall Street. Japanese markets returned from holiday, while Chinese markets were choppy before posting gains. Meanwhile, Fed Chair Powell provided insight into the Federal Reserve’s next policy decision, stating that the central bank will assess labour market, growth data, and inflation data to determine if policy is in the right place. If it’s not, they will move it there.

In other news, US President Trump shifted his stance on Ukraine, suggesting that the country, with the support of the European Union, is in a position to fight and “win” all of Ukraine back in its original form. This comes as OpenAI, Oracle (ORCL), and Softbank (9984 JT) announced the launch of five new US data centers, while NVIDIA (NVDA) director Mark A. Stevens sold over 350k common shares.

In terms of currency movements, the DXY edged higher throughout the APAC session, causing EUR/USD to briefly dip under 1.1800. The Australian dollar was boosted by strong inflation data, while the Japanese yen weakened slightly post-PMI.

Looking ahead, European equity futures indicate a softer cash open, with the Euro Stoxx 50 future down 0.4% after closing up 0.6% on Tuesday.

Overall, today’s market action and commentary highlight the complexities of global economic and political dynamics, and the need for investors to stay informed and adaptable in their investment strategies.