The EUR/USD pair trades with a bullish bias around 1.0815 during the early Asian trading hours on Wednesday.
EUR/USD gains momentum 1.0815 on Wednesday. Fed’sSchmid said inflation remains too highandthe US central bank has more work to do. The Eurozone ZEW Economic Sentiment Survey came in better than expected, improving to 47.0 in May, compared to 43.9 prior. Markets might turn to a cautious mood later in the day ahead of key economic data from the Eurozone and the US.
4% in April from 3.5% in the previous reading. The Core CPI inflation is projected to drop to 3.6% in April from 3.8% prior. If the forthcoming CPI data meets expectations, it could trigger the prospect of rate cuts. This, in turn, might drag the Greenback lower and act as a tailwind for EUR/USD. Across the pond, the upbeat ZEW Economic Sentiment Survey hasprovided some support tothemajorpair for the time being. The Eurozone ZEWEconomic Sentiment Surveyimproved to 47.0 in May from 43.
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