Euro holds steady amid mixed European data and central bank moves

The euro edged up to $1.162 as investors digested a mix of economic data and central bank developments.

GDP figures showed that Germany and Italy stalled in Q3, while France and the Netherlands expanded at a faster pace.

On the inflation front, regional German CPI data pointed to a slight slowdown in price pressures, although inflation accelerated in North Rhine-Westphalia, the country’s most populous state.

Meanwhile, Spain’s CPI unexpectedly picked up. Looking at monetary policy, the ECB is expected to hold interest rates steady later today, following the Federal Reserve’s second consecutive rate cut.

However, Fed Chair Jerome Powell indicated further cuts this year are not guaranteed.