In the currency markets, the euro fell significantly this week, which is the result of a series of data that hint at a deeper and longer recession in the eurozone than originally expected.
The price of the euro against the American currency fell by 1,27 percent on a weekly basis, to 1,3084 dollars. Compared to the Japanese currency, the euro dropped 1,79 percent to 104,45 yen.
The American currency also weakened against the Japanese one, so the price of the dollar fell by 0,5 percent to 79,85 yen, "SEEbiz" reports.
The drop in the euro exchange rate is a consequence of a series of indicators that the eurozone economy is slipping deeper and deeper into recession.
A report by the influential London institute Markit showed that the decline in activity in the industrial sector, after the peripheral countries of the eurozone, also strengthened in key countries, such as Germany and France.
The price of the euro against the American currency fell on a weekly basis by 1,27%, to 1,3084 dollars; against the Japanese currency, the euro dropped 1,79% to 104,45 yen
Data from Germany, Spain and France showed a significant decline in activity in the industrial sector, and Italian industrial production recorded a much larger than expected decline.
According to Markit data, activities in the service sector of the Eurozone also fell, while the European statistical institute Eurostat announced that the unemployment rate reached a record 10,9 percent.
The euro was also under pressure due to upcoming elections in France and Greece, as French presidential candidate Francois Hollande, who is leading in the polls, promised to shift his focus to boosting growth.
It is feared that this could cause tensions in German-French relations.
The unpredictability is more pronounced in the case of the elections in Greece, because it is estimated that the two leading parties that support the terms of the international aid program will have only a narrow majority over the parties that oppose those terms in the case of a coalition.
The dollar came under pressure on Friday, after it was announced that only 115 new jobs were created in the US in April, significantly less than analysts expected.
The disappointing figure revived fears that US economic growth is faltering and fueled expectations that the US central bank, the Fed, will further ease monetary policy.
On the other hand, monetary policy is not expected to be loosened in Europe.
After the European Central Bank kept key interest rates in the eurozone at a record low of one percent at a meeting in Barcelona on Thursday, its president Mario Draghi said that the eurozone economy will probably recover this year, although there are also risks of a decline in activity.
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