US Equity Futures Rise Amid Fed Watch; Lira Plunges 10% on Political Turmoil, Dollar Strengthens on Rate Cut Bets

US equity futures saw a slight increase as investors await the Federal Reserve's policy decision. According to Bloomberg, Nasdaq 100 and S&P 500 futures gained about 0.3%, recovering from Tuesday's losses. Tesla shares rose by 3.7% following California's approval for passenger services, while Nvidia also saw gains. However, concerns over President Trump's trade policies and lack of market support limited gains. The Fed's upcoming dot plot and Jerome Powell's comments will be crucial for understanding the central bank's economic outlook. Geopolitical tensions, including the end of the Gaza truce and turmoil in Turkey, added to market worries. The Turkish lira plummeted over 10% after the detention of a key opposition figure. The Stoxx 600 stalled, with losses in Turkey-exposed stocks. Gold prices reached record highs, and Bloomberg's dollar index rose 0.3%. The dollar has fallen 2.5% this month, but a hawkish Fed stance could trigger a rebound. The yen stabilized after the Bank of Japan maintained rates, while the euro declined from five-month highs despite Germany's debt financing plan.