- Ukrainian Hryvnia slides against the Euro for the second day
- Euro zone GDP remains broadly flat
- German’s DAX pared losses
- European shares risk-on bounce
The Hryvnia Euro (UAH/EUR) exchange rate posts a second consecutive day of losses as the Euro shows signs of recovery. The pair went down -0.45% on Tuesday, settling at €0.0306, towards the opening of the day. At 08:05 UTC AM, UAH/EUR trades slightly down -0.19% at €0.030478.
In the fourth quarter of 2021, GDP in the Euro zone had increased by an annualized rate of 4.6%, unchanged from the third quarter. At the same time, the quarter-over-quarter reading came flat at 0.3%.
Meanwhile, according to the European Union’s statistics office Eurostat, the employment change in the Euro zone came flat at 0.5% and rose by 2.2% on an annual basis.
The rapid spread of the Omicron variant in the three months from October to December put a brake on the EU economic activity.
Elsewhere, the German stock index pared losses after three consecutive days of losses. German’s DAX rose by 2.92% settling at 13,011 on Tuesday trading session.
In a similar trend, Spanish blue-chip index IBEX settled +1.82% higher and Italy’s MIB closed +0.80% higher, while France’s CAC 40 was slightly down by -0.32%.