Chief Analyst at Danske Bank Arne Rasmussen noted the relevance of today’s data releases in the US economy. Key Quotes “In FX markets focus today will turn to the USD amid a very packed US calendar, not least ending with the release of the January FOMC minutes”. “As market sentiment has tumbled further and US data weakened since the January meeting, one could argue that the information that we receive tonight is outdated”. “Yet markets will look for signs and comments in the minutes that could justify the significant re-pricing of Fed monetary policy over recent weeks: despite higher US rates in recent days, markets still price less than a 50% probability of a 2016 Fed hike and the first full Fed hike is first priced in Q4 2017!”. For more information, read our latest forex news.