Investors appear optimistic, helped by positive news from China and Mr Zelenskyy's upbeat comments, as they prepare for the Fed's monetary policy decision later today.
The financial stability and development committee under China's State Council met today and urged "measures to keep the country's major economic indicators within an appropriate range and maintain stable operation of the capital market", as per the press release on Chinese new agency Xinhua. It also stressed that relevant authorities should "actively introduce market-friendly policies", helping sentiment in Asia.
Chinese health authorities reported today 1,860 new local Covid-19 cases (plus 92 imported) on March 15, down from 3,507 infections in the previous day . Authorities also stuck to the zero-COVID policy to combat the infections. 
Russian President Putin noted that Kiev is not showing a serious commitment to finding mutually acceptable solutions, during yesterday's phone call with President of the European Council Charles Michel. .
Ukrainian President Zelenskyy on the other hand, sounded more upbeat, saying that "As I am told, the positions in the negotiations sound more realistic" , renewing optimism for a solution.
Main Asia-Pacific stock markets rallied and their European peers open higher. On the FX space, the JPY Basket extends its decline and the US Dollar is soft, while Antipodeans (AUD, NZD) advance against both.
EUR/USD tries to stay in profits above 1.0950, after its two-day rebound.
GBP/USD shows indecision around 1.3050, following yesterday's rebound.
USD/JPY retains its positive undertone, trying for new five-year highs (118.44).
USD/CAD extends yesterday's decline, testing 1.2750.
AUD/USD is upbeat and retakes 0.7200.
NZD/USD is constructive above 0.6750.
GER30 gains more than 2%, trying to take 14,300 out.
US30 is on the offensive, breaking above 33,700.
USOIL rebounds after its two-day slump, testing 99.00.
XAU/USD is cautious, probing 1,915.
Economic Calendar Picks (GMT)
Today's docket is dominated by the Fed monetary policy decision (18:00), with the bank projected to raise interest rates for the first time since 2018. Markets will also be looking at the updated dot-plot and of course, Chair Powell's press conference at 18:30.
Other than that, US Retail Sales and Canada's CPI Inflation are due at 12:30.
Overnight, focus will shift to New Zeeland's Q4 GDP (21:45) and Australia's Employment report (00:30).
See the economic calendar here.
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
Retrieved 16 Mar 2022 https://english.news.cn/20220316/74bf60c2d79645ac9d9986630c726b61/c.html
Retrieved 16 Mar 2022 http://en.nhc.gov.cn/2022-03/15/c_85887.htm
Retrieved 16 Mar 2022 http://en.kremlin.ru/events/president/news/67992