EURUSD Technical Analysis – The USD remains on the backfoot ...Middle East

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EURUSD Technical Analysis – The USD remains on the backfoot
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Fundamental OverviewThe USD has been generally under pressure since the benign US CPI report last week as the hawkish expectations subsided and the market switched its focus from inflation back to growth. This triggered a positive risk sentiment which is generally negative for the greenback. Yesterday, we got some US Dollar strength which peaked with the FOMC minutes as the market faded the “old news”.The EUR, on the other hand, got a boost today from the Eurozone PMIs where the data showed more positive momentum in growth with positive signs on the inflation front. Moreover, the Eurozone wage growth data was higher than the previous quarter, so that might keep the ECB more wary about easing

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