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Analysts at Danske Bank note that the FOMC monetary policy decision is the main mover this Wednesday.

Key quotes

“Tonight, the focus is on the FOMC meeting.

However, we do not expect any major policy changes tonight after the Fed changed its QE forward guidance at the December meeting.

We expect Fed Chair Powell will be asked about the tapering process on the back of the previous weeks’ discussions, see Fed Monitor:

Still too early for the Fed to start the normalization process, 13 January.”