U.S. government debt prices were higher Wednesday, as investors widely expected the Fed to cut interest rates later in the session.
Market focus is largely attuned to the U.S. central bank, with policymakers at the Fed seen cutting rates for the first time in more than a decade on Wednesday.scheduled to hold a press conference at 2:30 p.m. ET.
On the data front, ADP payrolls for July will be released at around 08:15 a.m. ET. Employment cost index figures for the second quarter and Chicago Purchasing Manager Index data for July will follow slightly later in the session.In commodities, oil prices rose for a fifth day after a stronger-than-anticipated fall in U.S. inventories.
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