Forex: the euro in sharp decline at mid-session

© Reuters. Market: the euro in sharp decline at mid-session

A mid-session during the Wednesday, 2 of January on the foreign exchange market, the european single currency declined 0.34% against the greenback, 1,1433 dollar, while giving a thickness of 0.76% against the yen and 1.04% against the swiss franc.

Associated with foreign currency as risky because of the combination of multiple risks local political and of the economic slowdown, the euro lost ground against the currencies considered as a safe haven, the dollar to the swiss franc through the yen, which has played this role in Asia.

In fact, the trends are not always more favourable on the Old Continent, in China, the index Caixin/Markit manufacturing activity has gone from expansion to contraction in December, a first in over a year. The institute for economic succession ‘signs indicating a weakening of demand, as new orders declined slightly and that the companies have reduced their load factors for the second month in a row’.

In addition, if the final version of the index, IHS Markit measure of manufacturing activity in the euro zone is as expected showed up at 51.4 points in December, the institute matches the publication of the following comment : ‘the current weakness of the industry now risks of slowing the economic growth of the area of the single currency in the fourth quarter. In fact, the production has seen over the last three months, its lowest growth rate since the second quarter of 2013’.


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