The euro drifted lower against its major counterparts in the European session on Wednesday, after the European Central Bank President Mario Draghi struck a cautious tone about the euro area economy, saying that global headwinds continued to weigh on growth developments and deteriorate economic outlook.
In his customary press conference in Frankfurt, Draghi acknowledged that incoming information since the last meeting in March confirmed lower growth momentum extending into the current year.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.