Canadian housing is in focus today, with the Canadian Real Estate Association releasing August home sales and price data. Statistics Canada will also share July wholesale trade data at 8:30 a.m. Eastern time. Wholesale sales rose 2.8% in June.

In the U.S., the Federal Reserve begins its two-day policy meeting. Markets are heavily pricing in a quarter-point increase after stubborn inflation and rising oil prices prompted several major banks to revise their forecasts. The central bank’s highly-anticipated rate decision will come tomorrow.

Overseas, China releases August retail sales, industrial production and fixed-asset investment figures overnight. U.K. employment data are due at 2 a.m. ET.