Euro moves in negative zone ahead of remarks by ECB officials

Euro fell in European trade on Thursday against a basket of major rivals, moving in a negative zone against the dollar ahead of important remarks by European Central Bank officials.

The dollar gained ground alongside US 10-year treasury yields, and before important US retail sales and producer prices data.

EUR/USD

EUR/USD fell 0.15% to 1.0932, with a session-high at 1.0955, after closing up 0.2% on Wednesday, the second profit in a row on higher risk appetite. 

ECB Officials 

Throughout the day, European Central Bank policymakers will discuss economic developments in the eurozone and especially inflation and interest rates, which could provide fresh clues on the likely data of policy easing.

European Rates 

The ECB is discussing the appropriate time to end the policy tightening cycle and officially commence interest rate cuts.

As inflation in the eurozone approaches the 2% target, ECB policymakers remain wary of a premature move to easy policies. 

Thus, markets are now betting on June as the likely date for the first ECB interest rate cut. 

The Dollar 

The dollar index rose 0.1% on Thursday against a basket of major rivals as US treasury yields gain ground. 

US 10-year treasury yields surged to a two-week high at 4.202% ahead of important US data on retail sales and producer prices, which will provide fresh pricing for US interest rates this year.