Euro slips vs. dollar ahead of Powell's Senate testimony in DC

Euro gave up ground in American trade against the dollar following earlier data from the euro zone and the US, the world's largest economy. 

As of 03:43 GMT, EUR/USD shed 0.06% to 1.1161 from the opening of 1.1168, with an intraday high at 1.1178, and a low at 1.1151. 

Earlier, the European Union released its Economic Bulletin, which comes two weeks after policymakers held interest rates unchanged at their current zero lows, while maintaining the deposit rate at minus 0.40%, as ECB president Mario Draghi expressed back then the intention to carry on the monetary easing program until the end of the year, with a possible extension beyond that if needed. 

Draghi said in the post-meeting conference that recent euro zone data,  showed that economic growth is gaining momentum, which announcing an upgrade to growth forecasts and a downgrade for inflation. 

Draghi added that policymakers didn't discuss the possibility of normalizing the monetary policy, while asserting that the 60 billion euro a month asset purchase program is effective and flexible enough and takes into consideration the stabilization of prices in the region. 

Otherwise, the euro zone consumer confidence index rose to minus one in June from minus 3 in May, besting expectations of also minus 3. 

Earlier US data showed unemployment claims rising as expected, while the housing price index rose 0.7%, or the same as before in April, as the CB leading index accelerated below forecasts in May. 

Federal Open Market Committee member Jerome Powell is scheduled to appear in front of the Senate Committee on Banking, Housing, and Urban Affairs, in Washington DC, as investors look for any clues about the future of policy tightening this year