All ranging still and tightly bound as the month draws to a close 31 Jan
Earlier I highlighted the tight ranges being caused by the large option expiries rolling off at 15.00 GMT and any after-impact of that is about to be revealed. Don't look for fireworks going off though.
16.00 GMT London fix also a potential threat to the peace and tranquility but many corps nowadays spend days before shuffling their accounts. Definitely keep it mind though.
Then it's all eyes on Yellen and her final hurrah at 19.00 GMT before handing over the reins to Powell. Plenty of talk that she'll leave a hike present for him and save any difficult decisions on his debut.
I'm not so sure but I remain of the view that what the Fed promises and what the Fed actually delivers are not the same in recent months/years. In any case hikes are largely factored in to the bigger picture.
More FOMC thoughts/previews here
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