NASDAQ futures hit records as NVIDIA tops $5T ahead of Fed decision

US equity futures surge to fresh record highs with NASDAQ leading gains as NVIDIA's market capitalization exceeds $5 trillion, reflecting continued AI-driven optimism ahead of the Federal Reserve's rate decision. The technology sector rally strengthens dollar sentiment as foreign investors increase US asset allocations, potentially impacting major forex pairs including EUR/USD and USD/JPY. Market positioning suggests traders expect a dovish Fed pivot, which could paradoxically weaken the dollar despite equity strength. The correlation between US stock performance and dollar flows remains complex, with risk-on sentiment potentially benefiting high-beta currencies against the greenback. Upcoming earnings from major technology companies ('Mag 7') add another volatility catalyst, with results likely to influence both equity markets and currency movements. Forex traders should monitor the interplay between record equity levels and dollar strength, as divergence between these typically correlated assets could signal regime change in market dynamics.