EUR/USD is continuously trading sideways around 1.0960 following the footprints of the US Dollar Index (DXY). The major currency pair is struggling to find a decisive move as investors are likely to show interest after the release of the United States Automatic Data Processing (ADP) Employment and ISM Services PMI data.
S&P500 futures have turned negative after some minimal gains in the Asian session, portraying a further decline in the risk appetite of the market participants. US equities witnessed selling pressure on Tuesday as the release of the downbeat US Job Openings data after declining Manufacturing activities triggered the risk of recession.
Meanwhile, the US Dollar Index (DXY) has shown a modest recovery after refreshing its monthly low at 101.45 being supported by firmer US Treasury yields. The demand for US government bonds has turned subdued despite the rising chances of a steady monetary policy by the Federal Reserve (Fed). The 10-year US Treasury yields have rebounded to near 3.35%.
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