The USD now trades a little lower vs. its.....>

FOREX: The USD now trades a little lower vs. its major peers after brief and

contained moves in either direction at the start of the week.

- Focus this week is set to fall on FOMC rhetoric, with a lack of tier 1

economic data apparent. 

- Elsewhere RBA, FOMC & ECB meeting minutes provide the immediate event risks,

while Fed Chair Powell is set to testify in front of US congress on Friday.

- Watchers expect the RBA minutes to pass without much interest, with more focus

set to fall on the latest batch of Australian wage data.

- Following the hawkish no-rate hike January FOMC meeting, BNP Paribas

economists said they "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." BNP said they will be "looking for clues as to whether 'further

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

Scotiabank economists ask "why did the FOMC insert the word "further" in front

of "gradual" in the January 31st FOMC statement?"