Euro rose in European trade against a basket of major rivals away from two-week lows ahead of major European data in November, which provide strong clues on the performance of the economy in the last quarter of the year.

The dollar continues to decline ahead of the Federal Reserve's meeting minutes, which will provide clues on the pace of interest rates in December.

EUR/USD rose 0.4% to 1.0348, after closing up 0.6% yesterday, the first profit in four days away from two-week lows at 1.0222.

Major Data

Investors await important European data on the manufacturing and services PMIs to gauge activities in such sectors in November. 

The data will help determine the likely path for monetary policies and interest rates this year. 

Estimates

It's expected the data will show another slowdown in activities in November, in turn impacting monetary policies to come, and potentially forcing the ECB to scale back plans to raise interest rates quickly. 

The Dollar

The dollar index fell 0.3% on Wednesday for another session away from two-week highs at 107.99 against a basket of major rivals.

The dollar lost ground ahead of the Federal Reserve's meeting minutes expected to show clues on policies and interest rate decisions in December. 

Gold prices stabilized positively on Tuesday as the dollar slipped against a basket of major rivals, while markets analyse a batch of statements from Fed officials. 

Fed Cleveland President Loretta Mister said she could support a decision to slow down the pace of rate hikes in December. 

It comes after the Fed raised interest rates for the fourth time in a row by 75 basis points in November. 

The dollar index fell 0.5% to 107.2 as of 18:14 GMT, with a session-high at 107.7, and a low at 107.2. 

Gold futures rose 0.1% to $1,740 an ounce as of 18:14 GMT. 

US stock indices rose on Tuesday as markets analyse a batch of statements from Fed officials. 

Fed Cleveland President Loretta Mister said she could support a decision to slow down the pace of rate hikes in December. 

It comes after the Fed raised interest rates for the fourth time in a row by 75 basis points in November. 

Dow Jones rose 0.8%, or 264 points to 33,959 as of 15:41 GMT, while S&P 500 rose 0.6%, or 24 points to 3,974, as NASDAQ rose 0.2%, or 26 points to 11,051. 

Palladium prices rose on Tuesday as the dollar fell against most major rivals, but the gains were not enough to push prices past $1,900.

Chinese health authorities reimposed restrictions on movements as Covid 19 infections surge once more, hurting demand on commodities.

Also the government reported the first two cases of Covid 19 deaths in six months, which means the road is still long before the policies work.

China is the world's largest consumer and importer of palladium and many other industrial metals, and prices are thus impacted by Chinese developments. 

The dollar index fell 0.4% to 107.3 as of 15:22 GMT, with a session-high at 107.7, and a low at 107.2. 

Palladium futures due in December rose 1% as of 15:23 GMT to $1,872 an ounce.