EUR/USD trades flat around 1.0865 near multi-week lows amid the consolidation of the USD. The FOMC is expected to hold the interest rate and maintain macroeconomic projections at its March meeting on Wednesday. The Eurozone ZEW Economic Sentiment came in at 33.5 in March vs. 25.0 prior, better than expected. The FOMC monetary policy meeting will be in the spotlight on Wednesday. Meanwhile, the USD Index consolidates its gains near three-week highs of 103.80.
Across the pond, the ZEW Economic Sentiment for the Eurozone rose to 33.5 in March from the previous reading of 25.0, above the market consensus of 25.4. Meanwhile, the Economic expectations for Germany improved to 31.7 versus 19.9 prior. The reports suggested a more optimistic outlook for the Eurozone and Germany. However, the survey failed to boost the Euro as traders prefer to wait on the sidelines ahead of the FOMC interest rate decision.
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