Euro inches up versus dollar as eyes fixed on Euro Group meeting

Euro tilted higher against the dollar away from the lowest since August 17 following a spate of data from the euro zone, and as the US market shuts down for the Columbus Day holiday.

As of 04:41 GMT, EUR/USD rose 0.06% to 1.1737 from the opening of 1.1729, with an intraday high at 1.1748, and a low at 1.1718. 

Earlier German data showed industrial production rose a solid 2.6% in August, compared to July's 0.1% dip, and besting expectations of a 0.9% increase, while on a yearly basis, production accelerated to 4.7% from 4.2%, easily passing expectations of 3.0%, as the Euro Group meeting takes place in Brussels. 

Otherwise, European Central Bank board member Yves Mersch stated that monetary easing helped improve the credit situation inside the eurozone, while noting that it became harder to forecast inflation amid economic globalism.  

Now markets await speeches by ECB president Mario Draghi and his Federal Reserve counterpart, Janet Yellen' later this week, in addition to the Federal Open Market Committee's minutes of the September 26-27 meeting.