FX Markets Consolidate as Traders Await Central Bank Decisions

Foreign exchange markets are trading in tight ranges as traders position neutrally ahead of a busy week of central bank meetings. EUR/USD hovers near 1.0570, showing minimal directional bias with a 0.1% intraday range. GBP/USD consolidates around 1.2650 following mixed UK economic data, while USD/JPY maintains its position near 150.00 despite Bank of Japan policy speculation. USD/CAD trades sideways at 1.3580 ahead of the Bank of Canada's rate decision, where a 25 basis point cut is anticipated. Market positioning data reveals balanced sentiment across major pairs, with speculative traders reducing both long and short exposure. Implied volatility remains subdued, suggesting markets expect measured responses from central banks rather than policy surprises. Technical patterns indicate most pairs are trading within established ranges, awaiting catalyst events to determine the next directional move in what could be a pivotal week for currency markets.