EUR/USD trapped below 1.06

EUR/USD turned negative again on Tuesday, hovering around the 1.0500 mark after falling below the 1.0600 mark. There are several EU-centric data releases on Wednesday, but most are final and unlikely to have an impact on markets, with most investors looking instead to U.S. non-farm payrolls (NFP) numbers due out over the weekend. Employment data.

Final Eurozone Purchasing Managers' Index (PMI) readings for November will be released early on Wednesday, but the gauge is expected to be flat. ECB President Christine Lagarde will deliver a speech and will testify before the European Parliament's Economic and Monetary Affairs Committee. The ECB is unlikely to issue any market-moving language during its testimony.

The U.S. ADP employment change is due out on Wednesday and is expected to fall to 150,000 from the previous reading of 233,000. During the U.S. trading session on Wednesday, the services purchasing managers index in the ISM U.S. Purchasing Managers Index (PMI) will also be released to investors. The U.S. Services Purchasing Managers Index (PMI) is expected to be 55.5 in November, down from 56.0 last month.

Federal Reserve Chairman Jerome Powell is also expected to speak on Wednesday. Federal Reserve Chairman Jerome Powell will answer questions from the audience in a moderated discussion hosted by The New York Times.