Ahead of tonight's FOMC minutes.....>

US DATA PREVIEW: Ahead of tonight's FOMC minutes release at 1900GMT analysts at

Barclays expect the minutes of the January FOMC meeting to show a high degree of

consensus that US economic activity is solid. They also expect the minutes to

show that as many participants fear undershooting inflation as fear overshooting

on maximum employment, leaving risks to the outlook as broadly balanced. Last,

the minutes may feel somewhat stale in light of the recently passed Bipartisan

Budget Act of 2018 and expectations of a $1tn federal deficit in 2019.

- BNP Paribas expect the minutes to capture the sentiment to its upgrades, and

will be looking for its take on the drivers of the reacceleration in activity.

Their key focus in the minutes will be looking for clues as to whether "further

gradual increases in the federal funds rate" implies more rate hikes.

- RBC think there is a high probability that the Fed moves the dots to 4 hikes

in 2018 (from 3) near-term and that the minutes could be another step in

reinforcing this.