Anna Kalmykova, Analyst, Global Markets (Finam) On Tuesday morning the EUR/USD pair has been consolidating near 1.335 after gains in the previous session. Monday trading turned out to be mixed as investors are doubtful about the outcome of the US regulator’s upcoming meeting. The media published some patchy facts about the course of further monetary policy stateside. At the same time, some upbeat economic data came out both in the Eurozone and the US, propping up the single European currency and the greenback. However, near the final bell doubts that the QE would be scaled back at the upcoming meeting held sway, helping the euro rise sharply and approach the 1.3384 mark. As for the news flow, The Financial Times wrote in an article that Fed chairman Ben Bernanke could signal that stimulus measures need tapering off and the Fed’s further actions would be dependent on the economy. However, a reporter behind this FT article specified that he has no official confirmation and told investors to relax. The Eurozone’s April trade surplus turned out to be beneath March levels, but showed the second best number for the past nine months, shoring up the euro. Later the greenback firmed on news the Empire Manufacturing Index for June returned to positive territory, outpacing the consensus forecasts, while the NAHB Current Conditions and Expectations Index climbed to a 7-month high. Today’s macro calendar features Germany’s ZEW Economic Sentiment Index for June, US housing starts for May and consumer inflation that will hardly produce any tangible impact on the EUR/USD pair with the Fed’s meeting is right around the corner. In terms of technical indicators, the EUR/USD pair will most likely continue to trade in a horizontal band of 1.3280 to 1.3390 until some important news comes in from the Fed.