A long weekend for FOMC

In US, the Federal Reserve has a long weekend until 1st December, which includes the roasted turkey. The December meeting is most awaited as the market widely expects for a rate hike, first time in almost a decade.

Today's EUR/USD trading will gradually nod off as at dollar front, everything seems quiet. In preparations for the Thanksgiving, the US market has largely squared off its positions and even tomorrow, it will remain inactive.

There is lack of Euro zone data or any speeches by ECB members, to provide momentum, even the things on Euro front will not be major driving ones.

"Market participants will have to either concentrate on other currencies - the JPY is a good option for the hyperactive as labour and inflation data from Japan are going to be published tomorrow - or simply keep still", says Commerzbank.