SHANGHAI, Mar 17 —This is a roundup of global macroeconomic news last night and what is expected today.

The US dollar index turned up for the day on Wednesday shortly after the U.S. Federal Reserve raised interest rates by the expected quarter of a percentage point and projected its policy rate would go as high as 2% by the end of the year.

The index against major currencies rose about 0.1% on the announcement after having been down 0.2% shortly before.

Earlier in the day dollar had fallen 0.6% as the euro, a major component of the index, climbed amid signs of compromise by Russia and Ukraine in “more realistic” peace talks.

The euro was last up 0.1% to $1.0964.

U.S. stock futures were quiet on Wednesday evening as investors digested the latest projections from the Federal Reserve.

Futures tied to the Dow Jones Industrial Average added 23 points, or less than 0.1%. Those for the S&P 500 and Nasdaq 100 hovered just above the flat line.

The moves in futures come after the Federal Reserve hiked its benchmark interest rate for the first time since 2018 and signaled six more hikes this year, spurring a relief rally in stocks.

The Fed significantly raised its projections for rate hikes and inflation in 2022, but investors appear to have taken those aggressive changes as proof the central bank was taking the rise in prices seriously.

Oil fell on Wednesday in another volatile session as traders reacted to hoped-for progress in Russia-Ukraine peace talks and a surprising increase in U.S. inventories.

Around noon in New York, global benchmark Brent was slightly lower and U.S. crude was slightly higher.

The oil market has been on a roller-coaster for more than two weeks, trading in wide ranges of several dollars a day.

On Wednesday, global benchmark Brent crude had swung between $97.55 and $103.70 and was down 2.35% to $97.56 per barrel at 2:40 p.m. on Wall Street. U.S. West Texas Intermediate (WTI) crude shed 1.45% to settle at $95.04 per barrel.

Gold prices steadied on Wednesday as the dollar weakened after the U.S. Federal Reserve raised interest rates by a quarter of a percentage point in a widely expected move.

Spot gold was up 0.1% at $1,920.45 per ounce as of 3:20 p.m. ET. Earlier in the session, bullion fell as much as 1.2% to $1,894.70 as U.S. Treasury yields jumped following the Fed announcement.

U.S. gold futures settled down 1.1% at $1,908.40.

The pan-European Stoxx 600 index provisionally ended up around 3%, with major bourses and almost all sectors in positive territory. Tech stocks rose more than 6.5% to lead the gains, while utilities bucked the trend, slipping 0.8%.

Regional markets got a boost on reports that progress was being made in ongoing talks between Russia and Ukraine in a bid to find a peace deal. Russia’s Foreign Minister Sergey Lavrov said Wednesday that some parts of an agreement were close to being agreed, with “neutral” status for Kyiv being “seriously discussed,” he told RBC News.