Euro futures experienced heightened volatility, initially climbing above 1.1430 before ultimately closing lower near 1.1375 following the latest European Central Bank decision. With the ECB holding rates steady and leaving the possibility of a September hike open, market focus quickly shifted to the Federal Reserve. The U.S. dollar surged as expectations for a rate hike at the upcoming July FOMC meeting jumped significantly, rising above 30 percent after sitting near zero just a week prior. This divergence in central bank outlooks continues to influence currency valuations. Additionally, broader market volatility remains elevated, driven by ongoing geopolitical events in the Middle East and crude oil prices approaching $100 per barrel. These rising energy costs are creating inflationary pressures across all currencies. Looking ahead, market participants await Friday's Bloomberg Economic Survey, Global PMIs, and housing data.