This is what you need to know on Wednesday:
1. European stocks drift higher Wednesday as investors maintain a cautious stance ahead of today's rate decision in economic projections from the U.S. Federal Reserve.
2. Last night's triple-set of record highs on Wall Street failed to ripple through into Asia trading amid the tentative atmosphere ahead of the 2:00 pm eastern time rate announcement from Washington, with the U.S. dollar slipping 0.05% to 91.75.
3. Global crude prices, however, were active overnight after Iraq's Oil Minister told reporters that OPEC members could still consider extending their production cut pact beyond the March 2018 deadline.
4. Thyssenkrupp and Tata Steel sign agreement to create JV that would be Europe's second-largest steelmaker
5. Germany's Thyssenkrupp AG (TKAMY) and India's Tata Steel have signed an agreement to merger the two group's steel operations in joint venture that could generate sales of around €15 billion and ignite a stand-off between unions, management and a key activist shareholder.
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