Market Update - FOMC important today

FOMC tonight will be quite important in giving direction.
Will they indicate a tightening and kill the housing market to reduce inflationary pressure or vice versa?
We think, they will do nothing and try to wait it out.
They could point to the weak housing market and the high core inflation as balancing each other out in the mid-term.

Carry Trade crosses still looking strong, but USDJPY not able to close above its 200-day moving average (117.68)

Equities closing on a strong note. S&P500 making new highs for March.

Fixed Income looking tired. FOMC could be a tipping point.