According to TD Securities analysts, the U.S. Federal Reserve's March dot plot will be a key focus of markets' attention tomorrow.

• "We look for the median dots to decline in each of the next three years, but not all the way to zero for 2019.
• We also expect the Fed to give more information about the desired equilibrium supply of reserves, and to state that balance sheet runoff will end later this year.
• Markets: Only a significant deviation from the script would create a strong reaction in Treasuries as modest dovishness is already priced. The hurdle to generate an outsized reaction in FX is rather high. With the world mired in a growth slowdown and awaiting a pick-up, we see limits to sustained USD weakness. Fresh catalysts are required to flip that script."