07:55 AM EDT, 10/02/2024 (MT Newswires) -- The euro is steady following Wednesday's eurozone labor market data, said Bank of Montreal (BMO).

The eurozone jobless rate remained unchanged at 6.4% in August.

While the regional aggregate did the expected, one country stood out, according to the bank. Italy's jobless rate unexpectedly fell to 6.2% in August from a downwardly revised 6.4% in July, slipping to its lowest level since September 2007.

Not exactly the one-two punch needed to solidify October rate cut expectations for the European Central Bank, which should keep the debate lively with just over two weeks to go until the Governing Council meets, stated BMO.