Euro gains ground for first session in three against dollar

Euro tilted higher in American trade against the dollar following earlier data from the euro zone and amid a lack thereof from the US today, as a US government shutdown entered its fourth week. 

As of 04:52 GMT, EUR/USD rose 0.07% to 1.1477, with an intraday high at 1.1482, and a low at 1.1442. 

Earlier German data showed wholesale prices fell 1.2% in December, compared to a 0.2% increase in November, while industrial production in the euro zone tumbled 1.7%, compared to a 0.1% increase in October. 

European Central Bank member Ewald Novotny noted how the ECB will continue to be cautious on rate hikes amid mounting concerns about the global economic slowdown, with Germany exposed to lower equipment demand, while dismissing chances of a full-scale meltdown similar to what happened in 2008.