Euro rebounds from early 2017 lows versus dollar

Euro rose in American trade off January 2017 lows against the greenback, following a spate of data from the euro zone and the US today. 

As of 04:53 GMT, EUR/USD rose 0.21% to 1.1314, with an intraday high at 1.1348, and a low at 1.1263. 

Earlier German data showed the GDP contracted by 0.2% q/q in the third quarter, compared to a 0.5% growth in the second, and missing estimates of a 0.1% dip, while growing 1.1% y/y, slowing down from 2.3% in the previous reading. 

French consumer prices rose 0.1% in October, compared to a 0.2% dip in September, while industrial production for the whole euro zone fell 0.3%, compared to a 1.1% increase in August, beating estimates of a 0.4% drop. 

The euro zone's economy grew 0.2% in the third quarter, same as the second, while growing 1.7% y/y, also same as before. 

Otherwise, German economy minister Peter Altmaier ascribed the economic slowdown in the third quarter to the crisis of car emissions, which weighed on the industry and led to overall economic contraction, while expecting such developments to be transient. 

Earlier reports indicated EU leaders will convene on November 25 to finalize and agree on the Brexit agreement with Britain in case it was accepted by the British government and Parliament. 

On another note, the European Commission said it will respond to new Italian budget suggestions by November 21 after the Italian government made some revisions and presented them to the Commission. 

US Inflation Data 

Earlier US data showed consumer prices rose 0.3% m/m in October as expected, above September's 0.1% increase. 

Core prices, excluding food and fuel, rose 0.2% as expected as well, above September's 0.1% increase. 

On a yearly basis, prices rose 2.5% as expected, while core prices rose 2.1%, slowing down from 2.2%.