Ella 
EUR/USD has started the new week of trading around the familiar 1.1300 mark. The pair has been stuck in a choppy consolidation phase as Euro traders face difficulty in moving the market in either direction.
European data remains limited this week: the final Purchasing Managers Index (PMI) data due out this week is unlikely to offer any surprises, while the pan-European retail sales data due out early Wednesday is already expected to disappoint, leaving Euro traders focused on this week’s key Federal Reserve (Fed) rate decision.
The Fed is expected to keep interest rates unchanged, a decision that could draw further criticism from the Trump administration, which is trying hard to get Fed Chairman Jerome Powell to cut rates sooner rather than later. Labor and inflation data appear roughly balanced, but the White House’s erratic and unclear trade policy weakens the odds of a rate cut as the Fed remains committed to controlling unemployment and price volatility.
While the odds of the Fed keeping interest rates on hold this week are all but certain, Chairman Powell’s comments will hold greater significance for investors following the Fed’s announcement on Wednesday. Market participants are still looking for signs of a shift toward a new rate-cutting cycle, and traders will be watching closely for any dovish hints from Fed officials.
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