USD awaits ADP jobs data ahead of NFP, EUR quiet with ECB speakers

The forex market remains in consolidation mode with major pairs trading within tight ranges ahead of today's US ADP employment report, expected at 95K versus 37K previously. While the ADP data typically has limited market impact, traders are positioning cautiously before tomorrow's crucial Non-Farm Payrolls release, which the Federal Reserve closely monitors for monetary policy decisions. The European session lacks significant economic releases, with only ECB speakers scheduled who are unlikely to provide new policy insights. The Canadian Manufacturing PMI later today could influence CAD pairs if it deviates significantly from expectations. USD pairs are trading near recent ranges, with EURUSD holding above 1.0800 support and GBPUSD consolidating around 1.2650. The lack of major catalysts today suggests continued range-bound trading, with volatility likely to increase tomorrow around the NFP release. Traders should monitor the ADP figure for any extreme surprises that could signal tomorrow's employment trend.