1. USD slips ahead of Fed, Bank of Japan meetings

The dollar slipped lower against the other major currencies on Tuesday, as investors became more cautious ahead of the Federal Reserve and Bank of Japan’s highly-anticipated policy meetings this week.

The U.S. dollar index, which measures the greenback's value against a basket of six major currencies, fell 0.1% to 95.70 early Tuesday. On Friday, it touched 96.11, its strongest level since September 1.

Against the JPY, the USD fell nearly 0.2% to 101.70 after touching a session low of 101.55, which was the lowest level since September 13.

The EUR, meanwhile, inched up 0.15% to 1.1190.

2. Wells Fargo gets grilled

Get ready for tense exchanges Tuesday when Wells Fargo (WFC) CEO John Stumpf is grilled by members of the Senate Banking Committee. He will be asked how Wells Fargo was able to create more than 2 million fake accounts and why top executives didn't catch the fraud even though they fired 5,300 employees over several years.

3. Stocks to watch

Shares in Japanese auto parts maker Takata dropped 11.6% Tuesday after it was reported that the firm may go through bankruptcy proceedings.

Potential bidders for Takata (TKTDY) were considering bankruptcy options as a way to "mitigate liabilities" in relation to the company's massive airbag recall, Bloomberg reported.

Takata stock has lost about 90% of its value since 2014.

Walmart (WMT) is in the spotlight after completing its purchase of Jet.com last night. The takeover cost $3.3 billion.

The deal may help Walmart reinvigorate growth in its online shopping business and challenge Amazon (AMZN, Tech30).

4. Economics & Market overview

Important housing data is coming from the U.S. Census Bureau at 12:30GMT. The department is reporting national building permits and housing starts for August.

Global stock markets are pretty quiet right now.

"Financial markets seem to have pressed the snooze bottom on Tuesday and are not willing to wake up until Wednesday when the Bank of Japan and the Federal Reserve release their latest monetary policy decisions," noted Hussein Sayed, chief market strategist at FXTM.

U.S. stock futures are holding steady ahead of the open. European markets are mixed in early trading, while Asian markets are closing out the day with muted results.

This follows a relatively quiet Monday when the Dow Jones industrial average and S&P 500 ended the trading day unchanged. The Nasdaq dipped by 0.2%.