The euro held just above $1.15, hovering near its weakest level since June 20, as investors processed a wave of economic data and looked ahead to the Federal Reserve’s policy decision on Wednesday. Fresh Eurostat figures showed the Eurozone economy grew by a modest 0.1% in Q2, slowing sharply from 0.6% in Q1 but surpassing expectations of flat growth. Spain and France outperformed, expanding by 0.7% and 0.3% respectively, while Germany and Italy each contracted by 0.1%. In Spain, inflation rose more than expected in July. On the trade front, investor sentiment remained cautious amid concerns that the newly announced US-EU trade agreement favors the US, offering limited relief for the eurozone's sluggish outlook. Meanwhile, expectations for ECB rate cuts were pushed further out. Markets now price in a 90% chance of a 25-basis-point cut by March 2026, while the probability of a move in December has slipped to 30%.