Euro FX futures declined 2% from Nov. 4 levels to 1.1050, reaching their lowest point since April 2025 amid sustained U.S. dollar strength. Market participants weighed diverging central bank rate expectations, with pricing reflecting additional Federal Reserve rate hikes into early 2027 alongside a more uncertain outlook for the European Central Bank beyond December. Meanwhile, the CME Group Euro CVOL index firmed toward month-to-date highs ahead of Friday's PPI release.