USD fell on the European market on Monday against a basket of global currencies, resuming its decline, which was temporarily suspended on Friday, the lowest level in two weeks, with the acceleration of correction and profit taking, in addition to the marked activity of buying euro currency Euro after the end of the political crisis in Italy, The world’s largest economy is expected later in the day to release an important statement on US factory orders during April.

USD index fell more than 0.4% to 12:25 GMT, trading at 93.70 points, the opening level of 94.09 points, the highest at 94.10 points and the lowest at 93.61 points, the lowest since May 24.

The index ended Friday’s trading up 0.2%, its first gain in three days, after strong data on the US labor market.

The data reinforced the likelihood that the Federal Reserve will raise US interest rates for the second time this year at its meeting this month, and also boosted the possibility of accelerating monetary policy tightening and raising interest rates four times in 2018.

USD index lost less than 0.1% over the past week, its first weekly loss in the past seven weeks, on correction and profit taking from the six-and-a-half-month high recorded earlier in the week.

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China has warned that it will withdraw from its commitments to prevent a trade war with the United States if US President Donald Trump poses an independent threat to impose new tariffs.

US economy is expected to release an important statement on factory orders, one of the most important data on which the central bank depends on raising interest rates. US factory orders are expected to fall 0.4% in April from a 1.6% rise in March.