European markets were mostly closed on Wednesday for Labor Day holiday. Markets in the U.K. and Denmark, which were open for trading, ended the session on a weak note.

The Canadian market is slightly weak around noon on Wednesday, weighed down by losses in healthcare, energy and consumer discretionary sectors. The mood is cautious with investors digesting the latest batch of economic data from the U.S. and awaiting the Federal Reserve's monetary policy announcement.

Reflecting a decrease in spending on private construction, the Commerce Department released a report on Wednesday showing U.S. construction spending unexpectedly edged slightly lower in the month of March. The report said construction spending dipped by 0.2 percent to an annual rate of $2.084 trillion in March, while economists had expected construction spending to rise by 0.3 percent.

The Institute for Supply Management released a report on Wednesday showing a modest contraction by U.S. manufacturing activity in the month of April. The ISM said its manufacturing PMI slipped to 49.2 in April from 50.3 in March, with a reading below 50 indicating contraction. Economists had expected the index to edge down to 50.0.

The Energy Information Administration released a report on Wednesday showing an unexpected rebound by U.S. crude oil inventories in the week ended April 26th. The report said crude oil inventories jumped by 7.3 million barrels last week after tumbling by 6.4 million barrels in the previous week. Economists had expected crude oil inventories to decrease by 2.3 million barrels.

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: ADP hints at another strong NFP on Friday

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Fed’s hawkish tone risks sinking S&P500 to 4700

Fed meeting in the spotlight; equities under pressure; Dollar strength continues, could intensify if Fed appears hawkish; Questionable yen intervention result; more action over the next sessions? Bitcoin fights for $60k level; oil in retreat despite Middle East headlines

Bitcoin, MetaStock, Aussie dollar, and gold fell. Oil prices dropped, Canadian dollar weakened. Ex-Binance CEO jailed. Key events: UK's 10y Bond Auction, US ADP Employment Change, Japan's BOJ Monetary Policy Meeting Minutes, Japan's Jibun Bank Manufacturing PMI, Dutch Market Manufacturing PMI, Dutch Retail Sales.

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: A new stage of Bitcoin's decline