欧元跌至1.16美元以下，为10月中旬以来的最低水平，美联储按预期将联邦基金利率下调25个基点后，美元走强，欧元承压。然而，鲍威尔主席表示，央行今年可能不会再次降息。与此同时，预计欧洲央行将在10月30日连续第三次会议上保持借贷成本不变，预计2025年不会采取进一步的政策举措。在经济复苏和通胀放缓的迹象下，政策制定者仍持谨慎态度。在欧元区，9月份通货膨胀率从前三个月的2.0%微升至2.2%，而第三季度GDP估计增长了0.1%，与第二季度持平。

The euro fell below $1.16, its weakest level since mid-October, pressured by a stronger dollar after the Federal Reserve lowered the federal funds rate by 25 basis points, as expected. However, Chair Powell signaled that the central bank may not cut rates again this year. Meanwhile, the ECB is expected to keep borrowing costs unchanged for a third consecutive meeting on October 30th, with no further policy moves anticipated in 2025. Policymakers remain cautious amid signs of economic resilience and moderating inflation. In the Eurozone, inflation edged up to 2.2% in September from 2.0% over the previous three months, while GDP is estimated to have grown 0.1% in the third quarter, matching the pace seen in the second quarter.

周三，欧洲股市涨跌互现，从周一的历史高点小幅回落，一系列对比鲜明的企业业绩巩固了欧洲经济前景的不确定性。斯托克50指数收平，报5702点，斯托克600指数小幅下跌0.1%，报575点。银行股领涨，桑坦德银行在公布创纪录的九个月利润后飙升4%，而德意志银行在其投资银行表现强劲的情况下上涨了5%。西班牙对外银行、联合圣保罗银行和法国农业信贷银行将于本周晚些时候发布报告。与此同时，梅赛德斯-奔驰（Mercedes-Benz）股价上涨4.3%，其高端销售帮助提高了利润率，抵消了来自中国的收入下降。此外，葛兰素史克飙升6.6%，因为艾滋病毒和癌症药物销售支持了退货。与此同时，由于市场继续评估英伟达10亿美元股权收购的影响，诺基亚股价下跌3%，以抵消昨日20%的涨幅。与此同时，美联储将降低利率，并在欧洲央行明天做出利率决定之前宣布量化紧缩结束的最新消息。

European stocks mixed on Wednesday, holding the slight pullback from record-highs of Monday as a series of contrasting corporate results consolidated an uncertain outlook on the European economy. The STOXX 50 closed flat at 5,702 and the STOXX 600 inched down by 0.1% to 575. Banks led the gains with Santander soaring 4% after posting a record-high nine-month profit, while Deutsche Bank jumped 5% amid a strong performance from its investment bank. BBVA, Intesa Sanpaolo, and Credit Agricole will report later this week. Meanwhile, Mercedes Benz advanced 4.3% as its premium sales aided margins and offset lower revenue from China. Also, GSK soared 6.6% as HIV and cancer drug sales supported returns. Meanwhile, Nokia dropped 3% to trim the 20% surge from yesterday as markets continued to gauge the impact of Nvidia's $1 billion equity purchase. Meanwhile, the Fed is due to lower rates and announce updates on the end of quantitative tightening ahead of the ECB's rate decision tomorrow.

周三，STOXX 50指数上涨0.4%，STOXX 600指数上涨0.2%，此前开盘表现平平，交易员在等待联邦公开市场委员会当天晚些时候的决定的同时，对新一波企业盈利表示欢迎。汽车和银行领涨，而旅游和休闲、家居用品和保险则落后。瑞银在报告净利润大幅增长后上涨2.3%，葛兰素史克在上调前景后上涨4%，德意志银行在收益意外增长后上涨3%。桑坦德银行在连续第六个季度创下净收入纪录后上涨1.5%，梅赛德斯-奔驰在重申全年指引并重启股票回购计划后上涨6%，Next在上调利润前景后飙升4.9%。不利的一面是，Equinor在报告利润降幅大于预期后下跌了1%以上。SAP延续亏损，下跌1.4%。阿迪达斯（Adidas）股价下跌1%，此前该公司警告称，由于美国关税，市场将面临挑战。

The STOXX 50 gained 0.4% and the STOXX 600 added 0.2% on Wednesday, following a lacklustre open, with traders welcoming a fresh wave of corporate earnings while awaiting the FOMC decision later in the day. Autos and banks led sector gains, while travel and leisure, household goods, and insurance lagged. UBS rose 2.3% after reporting a sharp increase in net profit, GSK climbed 4% after raising its outlook, and Deutsche Bank gained 3% following a surprise rise in earnings. Santander advanced 1.5% after posting a sixth consecutive quarterly record in net income, Mercedes-Benz jumped 6% after reaffirming its full-year guidance and restarting its share buyback program, and Next surged 4.9% after lifting its profit outlook. On the downside, Equinor fell more than 1% after reporting a larger-than-expected drop in profit. SAP extended losses and fell 1.4%. Adidas lost 1% after warning of a challenging backdrop due to US tariffs.

欧洲股市周三开盘走低，投资者等待新一轮企业财报，阿迪达斯、空客、梅赛德斯-奔驰、瑞银和桑坦德银行等公司将公布财报。在数据方面，市场将消化西班牙第三季度GDP数据和意大利生产者通胀数据。与此同时，人们普遍预计美联储今天晚些时候将降息25个基点，而欧洲央行周四可能会保持政策不变。人们的注意力也转向了即将在韩国举行的特朗普-Xi会议，预计两位领导人将在会上敲定一个框架，该框架可能会暂停美国更高的关税和中国的稀土出口限制。在盘前交易中，欧洲斯托克50指数和斯托克600指数期货均下跌约0.1%。

European stock markets were poised to open lower on Wednesday as investors awaited a fresh round of corporate earnings, with reports due from Adidas, Airbus, Mercedes-Benz, UBS and Banco Santander, among others. On the data front, markets will digest Spanish Q3 GDP figures and Italian producer inflation numbers. Meanwhile, the US Federal Reserve is widely expected to deliver a 25 basis point rate cut later today, while the European Central Bank is likely to keep policy unchanged on Thursday. Attention also turned to the upcoming Trump-Xi meeting in South Korea, where the two leaders are expected to finalize a framework that could pause higher US tariffs and China’s rare earth export restrictions. In premarket trade, Euro Stoxx 50 and Stoxx 600 futures were both down about 0.1%.