Overnight trading was muted, with four trades executed leading to a net P&L of $-1,700.00 and a 50.0% win rate on the ES. As markets gear up for the day, strong attention is on the upcoming Federal Funds Rate announcement, with expectations holding steady at 3.75%. Investors are also keenly observing the FOMC Economic Projections and the FOMC Statement, which could provide insight into the Fed's stance on inflation and interest rates moving forward.

In geopolitical news, former President Trump has made headlines regarding potential actions in Iran, stating that the "Iran MOU is not final" and signaling possible changes in oil markets. This has resonated among market participants amid speculation that oil prices may drop below levels seen before the conflict, opening up discussions about U.S. energy policies and their economic implications. Meanwhile, the UK government asserts active engagement with the EU on steel measures, reflecting ongoing discussions that could impact trade and commodity markets.

As the session opens, the AI sentiment maintains a positive outlook, with an AI Pi reading of 69.0%, suggesting that traders may lean towards slight bullishness in anticipation of the Fed's statements. Algos are particularly focused on how these economic indicators will shape market direction as uncertainty looms regarding monetary policy adjustments and their effects on the futures markets.