Economic activity in the euro zone reached a high for 2016 in October, according to fresh figures released on Monday.
An initial estimate by IHS-Markit for its euro zone purchasing managers' index rose to 53.7 from 52.6 in September, representing the highest monthly increase since 2016 began. The index measures both the services sector and manufacturing.
"The euro zone economy showed renewed signs of life at the start of the fourth quarter, enjoying its strongest expansion so far this year with the promise of more to come," Chris Williamson, chief business economist at IHS Markit, said in a statement.
After the release, the euro continued hovering close to a seven month low, trading at $1.0890 at 9.20 a.m. London time. It fell to its lowest level against the dollar since last March on Friday to $1.0859.