Asian equities steadied on Wednesday as investors awaited Federal Reserve policy guidance and the outcome of high level trade talks between the United States and China, while drawing relief from Apple Inc's earnings. Investors were relieved that there was no fresh bad news after the company shocked financial markets at the start of this month when its rare revenue warning sparked fears the U.S.-China trade tensions were taking a toll on the tech sector. CEO Tim Cook, who is in regular contact with U.S. President Donald Trump, also said trade tension between the United States and China is easing in January. That helped boost optimism around current high-level trade talks between the two countries, even though many investors remain sceptical about whether the economic giants can bridge differences over a number of issues, such as intellectual property rights and technology transfers. China's Vice Premier Liu He is in Washington this week to meet U.S. officials, including Trump. U.S. Treasury Secretary Steve Mnuchin said on Tuesday he expected to see significant progress in talks with Chinese officials and that U.S. charges against telecommunications giant Huawei Technologies Co Ltd were a separate issue.

In main currencies, regarding EUR/USD, it was a consolidative day, with the price spending most of the day consolidating around 1.1425, the 50% retracement of the January decline, without European macroeconomic releases, bulls struggled to find a reason to buy the common currency. Regarding GBP/USD, once again flirted with the 1.3200 level but failed to advance beyond the key figure, falling all the way down to 1.3124 mid-US session, as EU authorities anticipated that there are no chances of renegotiating the Brexit deal, despite the UK Parliament was determined to vote a series of amendments, something that they actually did, although most of them, were rejected by lawmakers.

In commodities, regarding Gold the buying interest around it remains unabated, with the rates now printing fresh eight-month peaks near 1312 levels, while the yellow metal rose to the highest levels since May 2018. Oil prices on both sides of the Atlantic are flat lined in Asia as sanctions on Venezuela are likely keeping sellers at bay, while the concerns of global growth slowdown could be capping upside.

For today as per the economic calendar, the high impact news are FOMC Statement, Federal Funds Rate and FOMC Press Conference.