Euro fell slightly on the European market Wednesday against a basket of currencies, especially against USD, ahead of the release of important data from Europe on the main sectors of  economy, to the question of how the Eurozone economy improved in the fourth quarter of this year, Italian budget, after the European Commission rejected the draft budget for 2019 to Rome.

Euro fell against the dollar by 0.1% to 07:10 GMT, trading at $ 1.1460, the opening price of the day at $ 1.1469, the highest at $ 1.1476 and the lowest at $ 1.1455.

Euro posted a marginal gain of 0.1% against the dollar on Tuesday, the second gain in the last three days, as risk averse investors and low-yielding currencies bought.

European currency fell 0.3 percent against the dollar over the past week, its third weekly loss in a month, on strong prospects for the Federal Reserve to continue tightening US monetary policy and raising interest rates for the fourth time this year.

Later in the day, investors were looking at data from the major sectors of the European economy to show how the euro zone’s economic growth improved in the fourth quarter. The industrial and service sector PMI’s preliminary reading was released in various parts of Europe in October.

On the one hand, the European Commission on Tuesday rejected Italy’s draft budget for 2019, said it had strictly violated EU rules on government spending and asked the Italian government to resubmit the budget within three weeks after adjustment or face disciplinary action.