Excel isn't on the list of supported ODBC datasources for FileMaker. You will likely run into unexpected issues when trying it, but you can try. FileMaker touts it's ease of importing excel files, and it has some nice features to do that. If your spreadsheet is a single sheet with little to no formatting, importing into filemaker and then exporting records back out as excel may be a way to go. ODBC is likely not going to do what you want in this instance.
There are also several plugins available that might be suitable for this. 360 works has one, as well as MBS and I know there are others.
I believe you can do an ODBC import, but not a live connection. FM won't even see it. It's been a long time since I used something like that.
At one point I was doing a few things using Excel's DDE. But that isn't really something I wouldn't rely on long term ( since it was semi-replaced with OLE )