• EUR/USD is breaking down technically as we head into key US data events. 
• FOMC minutes prop up the hawkish sentiment and the US Dollar. 

EUR/USD fell by some 0.25% on Wednesday, weighed by a weaker-than-forecast eurozone PMI and PPI, risk-off tones surrounding China noise and by the Federal Open Market Committee minutes that have cemented the current hawkish sentiment.

The US Dollar has been climbing of late and jolted higher in late trade in New York ahead of more critical US data releases Thursday and Friday. Firstly, worries that trade frictions between China and the US could escalate kickstarted a move up in the Greenback this week. China made an abrupt announcement on Monday of controls from Aug. 1 on exports of some gallium and germanium products which has ramped up a trade war with the United States and could potentially cause more disruption to global supply chains. ''Analysts have described Monday's move as China's second - and bigger - countermeasure in the long-running US-China tech fight, coming after it banned some key domestic industries from purchasing from US memory chipmaker Micron (MU.O) in May,'' Reuters wrote on the matter