Elsewhere, the US inflation expectations, as per the 10-year and 5-year breakeven inflation rates from the St. Louis Federal Reserve (FRED) data, remain firmer and challenge the EUR/USD bulls of late.
Even so, the optimism surrounding the Eurozone economy and upbeat EU data, backed by the comments from the International Monetary Fund (IMF) seem to propel the EUR/USD price ahead of the top-tier factors.
Against this backdrop, US Dollar Index (DXY) licks its wounds near 102.15 after snapping a four-day uptrend the previous day. However, S&P 500 Futures remain directionless around 4,138 after a mixed Wall Street close. Further, the US Treasury bond yields grind higher and prod the US Dollar sellers. That said, the US 10-year and two-year Treasury bond yields grind higher around 3.43% and 4.03 during a four-day and five-day uptrend respectively.
Looking forward, firmer prints of the US CPI and hawkish Fed Minutes are both necessary to portray the EUR/USD pullback. Until then, the pair buyers keep 1.1000-05 resistance on their wishlist.
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