We're not trading like there is one
I've just noticed there's an FOMC announcement tomorrow. It's not often I forget about those but that just shows that the prospects for any action are extremely low.
The probability of a hike, as told by Bloomberg's Fed Fund Futures analysis is 12.8%. June is the hotter ticket at 70.4%.
There's no presser tomorrow so that should mean it passes without much incident. However, it will make the minutes more important on the 24th, as that may give some extra clues about a June hike.
No doubt we'll get Fed speakers galore afterwards (they've been gagged ahead of the meeting), and Yellen is due to speak on Friday, though she's speaking about 125 years of women's participation in the economy (I think she's seen 124 of those years) ;-)
Anyway, there's minor risk for the dollar tomorrow so we'll be on guard.
