Pay close attention to dollar crosses as the FOMC prepares to announce its decision. In general, higher interest rates increase the value of a country’s currency, while lower rates weaken it.

A rise in interest rates tends to negatively impact the stock market, as businesses and consumers will cut back on spending. Keep a close eye on the S&P 500, Dow Jones and Nasdaq indices.

Any rate change will directly impact US bonds, as there is an inverse relationship between bond prices and interest rates. That means that as interest rates rise, bond prices fall, and vice versa.