The EURUSD pair hovers around 1.0575 after retreating from the 1.0600 mark during the early Asian session on Wednesday. The risk-on flows dominate the
EURUSD currently trades around 1.0575 amid the risk-on mood and the softer USD. EU and German ZEW Economic Sentiment Survey for October came in better than expected. US Retail Sales for September rose 0.7% MoM, stronger than the 0.3% estimated. Market players await the Eurozone inflation data, US housing data. market and weigh on the US Dollar lower. Meanwhile, the US Dollar Index corrects lower to 106.20 and US Treasury yields surges sharply, with the 10-year Treasury yield reaching 4.83%.
However, higher US Treasury yields might cap the downside of the USD. Minneapolis Federal Reserve Bank President Neel Kashkari on Tuesday said that inflation has taken considerably longer than expected and is still too high. Earlier, Chicago Fed President Austan Goolsbee and Philadelphia Fed President Patrick Harker maintained their dovish stance. Harker stated that the central bank should not create new pressures in the economy by increasing the cost of borrowing.
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