Euro is seen steadying around a one-week high against the dollar on Wednesday, amid sustained weakness in the greenback overseas. The EURUSD pair is currently quoting at $1.1611. The global reserve currency is seen pressured on growing expectations of a Federal rate cut in the upcoming FOMC. Recent data points to weakening signs in US economy and soft labour market are seen setting stage for a near term rate cut. Moreover, data released by the Institute for Supply Management (ISM) yesterday revealed that the Services PMI eased to 50.1 in July, versus 50.8 prior.US treasury yields are lingering around a 3-month low while the dollar index is quoting at a one-week low at 98.53. Meanwhile, in the Euro zone, investors await the retail sales data, a key measure of consumer spending, for June. Also, Germany's factory orders dropped by 1.0% on month in June following a downwardly revised 0.8% fall in May. On the NSE, EURINR futures are seen at 101.75, up 0.15% on the day.