Markets Quiet Ahead of Fed as Microsoft and Meta Diverge

The market is essentially holding its breath as traders wait for Christopher Warsh's first Federal Reserve policy decision as chair [1][2]. Major forex pairs are mostly paralyzed in early trading, while the US Dollar remains defensive against this macro uncertainty. We did get a notable data print across the pond: UK inflation cooled to 2.8%, coming in under the 3.0% forecast [3]. That essentially locks in expectations for the Bank of England to hold rates steady at 3.75%, pulling the British Pound slightly lower on the day. Over in the equity space, the tech landscape is a bit fractured. Meta found some…