MARKET OVERVIEW - Dollar Remains Steady Ahead of Powell's Speech

Forex - The dollar remains stable as investors await important U.S. data and a later speech by Fed Chairman Jerome Powell. ADP private employment data will be released at 1615 UTC, while the ISM non-manufacturing purchasing managers' index will be announced at 1800 UTC. Analysts at UniCredit Research stated that the dollar could decline if the data comes in softer. They expect Powell to indicate that a rate cut is on the table at the meeting on December 18, but that the decision will depend on the data. Powell is expected to speak at 2145 UTC. The DXY dollar index is flat at 106.394.