The Eurozone's Flash CPI came at 0.2% y/y in December, missing the forecasts of a 0.3% rise, while the Core CPI, which excludes volatile items like energy, rose 0.9% y/y, missing the forecast of a 1.0% rise. The weak data would put further pressure on the ECB to expand its monetary stimulus, and the euro tumbled subsequently to a month low against the dollar at 1.0725, down 0.72% for the day. The common currency plunged to its lowest in 8-1/1 months against the yen at 127.80. It lost 0.56% against the sterling to trade at 0.7317.

European shares rose after a late stabilization by Chinese shares, with the pan-European index FTSEurofirst up 0.60% at 1,409. Germany's DAX gained 40 points, or 0.41% to 10,324. France's CAC added 30 points, or 0.62% to 4,547. Britain's FTSE outperformed the broader market, advancing fifty points, or 0.80% to 6,141.

Wall Street followed suit, with Dow Jones opening up 20 points, or 0.13% to 17,170. NASDAQ rose 12 points, or 0.27% to 4,915. S&P 500 climbed 4 points, or 0.20% to 2,016.

Dollar racked up good gains, as investors flocked to buy U.S. treasuries as a safe haven. The dollar index rose half a percent to a month high at 99.46. Dollar traded near an eight-month high against sterling at 1.4676, up 0.25% for the day. It fell 0.28% however against the resurgent yen to 119.09.

Brent crude futures slumped again, losing 60 cents, or 1.60% to $36.44 a barrel, close to the 11-year low of $35.98. U.S. West Texas Intermediary (WTI) crude futures tagged along, diving 45 cents, or 1.22% to $36.22 a barrel.