In the European session on Tuesday, the euro eased against its major counterparts after report showed that Germany's industrial production fell unexpectedly for December.
The data from the Federal Ministry of Economy and Technology revealed that German industrial production declined unexpectedly in December.
Production dipped 2.9 percent from November, when it remained flat. Economists were expecting it to show nil growth as seen in the prior month.
On a yearly basis, growth in working-day adjusted industrial output slowed notably to 0.9 percent from 4.4 percent in November. The expected rate of expansion for December was 4.3 percent. Likewise, annual growth in unadjusted industrial production eased to 0.8 percent from 4.4 percent.
The euro is now trading at 1.3125 against the greenback and 0.8300 against the pound, compared to early 4-day highs of 1.3169 and 0.8321, respectively. On the downside, the euro may target 1.30 against the greenback and 0.825 against the pound. The euro ended yesterday's deals at 1.3131 against the greenback and 0.8301 against the pound.
Against the yen, the euro that reached an 8-day high of 101.00 at 5:00 am ET pared gains shortly. The pair is presently worth 100.78 and if the euro slips further, it may target 99.00 level.
The European single currency that advanced to an 8-day high of 1.2087 against the franc at 5:55 am ET fell amid comments from Thomas Jordan, Vice-Chairman of the Governing Board of the Swiss National Bank. The euro-franc pair is now worth 1.2073 with 1.20 seen as the next downside target level. The pair ended yesterday's deals at 1.2065.
"Even at the current exchange rate, the Swiss franc is still very strong and the SNB remains firmly committed to defending the minimum exchange rate of CHF 1.20 per euro," Jordan said.
Looking ahead, Canada's building permits for December is expected at 8:30 am ET.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.