USD awaits FOMC decision as ADP jobs and Consumer Confidence loom
Currency markets remain subdued ahead of Wednesday's FOMC decision, with major pairs trading in narrow ranges. EUR/USD holds steady near 1.0850, while USD/JPY consolidates around 153.50. Today's European session features only low-impact data including French consumer confidence and Spanish unemployment, unlikely to influence ECB policy or market direction. Focus shifts to the American session with US ADP employment data and Consumer Confidence report, which could provide final clues about labor market conditions before tomorrow's Fed meeting. Markets are pricing in a 65% probability of no change in rates, though any surprises in today's data could shift expectations. Technical levels show EUR/USD facing resistance at 1.0875 and support at 1.0825, while USD/JPY eyes 154.00 resistance. Traders are advised to maintain cautious positioning ahead of the high-impact FOMC announcement.
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