The euro witnessed a decline on Thursday against a basket of global currencies, ahead of statements by some European Central Bank officials, which are expected to provide more evidence about the timing of cutting European interest rates coinciding with a recovery in US dollar levels thanks to the rise in yields on US Treasury bonds. For ten years, with anticipation of the release of important economic data from the United States on retail sales and producer prices, in addition to the consumer price index in the United States of America, which came higher than expected, which was in the interest of the dollar.

This decline in the euro against the dollar came by 0.15% to ($1.0932), from the opening trading price of ($1.0948)

Note that the euro ended Wednesday's trading up by 0.2% against the dollar, thanks to high risk sentiment.

During the day, some monetary policymakers at the European Central Bank will talk about economic developments in the euro area, especially related to inflation and the future of interest rates, as these statements will provide new evidence about the timing of reducing European interest rates.

Note that the euro had begun last week's trading with an increase against the dollar, after the European Central Bank showed that it was not in a rush to ease monetary policy and lower interest rates.

The European Central Bank said last week that key interest rates are currently at levels that would contribute significantly to achieving the inflation target of 2%, if they were maintained for a sufficiently long period.
The European Central Bank added: Most core inflation measures have declined further, but domestic price pressures remain high.

Therefore, attention is turning towards the important US economic data expected to be released today, in addition to statements from monetary policymakers at the European Central Bank.

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