A quick glance at the Fed funds futures curve before the main event today

<p>Essentially, not much has changed since the FOMC meeting last month. The Friday jobs report last week has only served to validate prevailing market sentiment and traders didn't see much need to budge from the pricing after the Fed.</p><p>Considering that inflation data is the all the rage these days, there might be more of a reaction in Fed pricing today than we would have liked to see with the non-farm payrolls at the end of last week. But given that traders are not pricing in any more Fed rate hikes for the year (and some odds of a rate cut as early as March next year), there might not be much need to alter that outlook if the inflation data does fall within estimates i.e. still showing a gradually declining trend.</p>

This article was written by Justin Low at www.forexlive.com.