EUR/USD AIMS TO SHIFT BUSINESS ABOVE 1.0600 AMID SUBDUED USD INDEX, US SERVICES PMI EYED The EUR/USD pair has scaled above the round-level resistance of 1.0600 in the Asian session after a recovery move. The major currency pair is looking to sustain its auction above 1.0600 as the US Dollar Index (DXY) is displaying a subdued performance despite hawkish commentaries from Federal Reserve (Fed) policymakers. The USD Index has refreshed its day low at 104.80 and looks prone to more downside. S&P500 futures have recovered some of the losses reported in the Asian session, portraying a minor recovery in the risk appetite of investors. Meanwhile, the alpha generated on the US government bonds has slipped marginally. The 10-year US Treasury yields have slipped to 6.05%. A decent action is expected from the US Dollar on late Friday as the United States Institute of Supply Management (ISM) will release the Services PMI data. The economic data is seen lower at 54.5 from the former release of 55.2. The New Orders Index which conveys the forward demand is expected to decline to 58.5 from the prior figure of 60.4. A surprise rise in the New Orders Index will clear that the overall forward demand is in an expansionary mode as Manufacturing New Orders Index PMI was also better than the anticipation, which could propel the Consumer Price Index (CPI) ahead. On the Eurozone front, after a surprise rise in the Harmonized Index of Consumer Prices (HICP), investors are shifting their focus toward the release of the Retail Sales data. Monday’s Retail Sales (Feb) data is expected to expand by 1.9% against a contraction of 2.8% released earlier on an annual basis. The consensus shows a contraction of 0.4% in February vs. a contraction of 2.7%, recorded in January.