EUR/USD portrays holiday mood below 1.0640 hurdle despite US Dollar pullback

EUR/USD remains sidelined after an upbeat start to the likely quiet week.
Softer US data, hawkish ECB outshine Fed talks amid light calendar, year-end sluggish sentiment.
Firmer yields, recession woes challenge pair buyers, sellers await US PCE Price Index.

EUR/USD seesaws near 1.0600 as it snaps two-day downtrend amid early Monday in Europe.

The major currency pair’s latest inaction could be linked to the cautious sentiment ahead of this week’s US data, as well as mixed concerns surrounding European growth. However, hawkish comments from the European Central Bank (ECB) policymakers and the central bank’s readiness for higher rates keep buyers hopeful.

During the last week, European PMIs have been better than the first readings of the US activity data and bolstered the bullish bias of the ECB policymakers. Additionally, chatters that the bloc’s policymakers may ease…

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