The US FOMC will announce its interest rate decision later today. Maybank analysts said in a foreign exchange research and strategy note that market expectations for a 50 basis point cut by the Federal Reserve have stabilized in the 60% -70% range. However, analysts said the FOMC may want to avoid sending the wrong signal to the market through a sharp rate cut, in part because it could cause panic. Analysts added that market participants are expected to watch Federal Reserve Chairperson Jerome Powell's press conference for the nuances of forward guidance on future rate cuts.