UAH/EUR: Hryvnia Snap Two consecutive days of losses against the strength of the euro
- Ukrainian hryvnia slides against euro for second day
- Eurozone GDP remains broadly stable
- The German DAX reduced its losses
- European stocks rebound on risk
The Euro Hryvnia exchange rate (UAH/EUR) posted a second consecutive day of losses as the Euro showed signs of recovery. The pair was down -0.45% on Tuesday, settling at €0.0306, towards the open of the day. As of 08:05 UTC, UAH/EUR is trading down -0.19% at €0.030478.
In the fourth quarter of 2021, euro area GDP grew at an annualized rate of 4.6%, unchanged from the third quarter. Meanwhile, the quarter-over-quarter reading was flat at 0.3%.
Meanwhile, according to the European Union’s statistics office Eurostat, the change in employment in the euro zone remained stable at 0.5% and increased by 2.2% on an annual basis.
The rapid spread of the Omicron variant in the three months from October to December dampened economic activity in the EU.
Elsewhere, the German stock index pared losses after three consecutive days of losses. The German DAX rose 2.92% to settle at 13,011 during Tuesday’s trading session.
In a similar trend, the Spanish blue chip index IBEX settled up +1.82% and the Italian MIB closed up +0.80%, while the French CAC 40 fell slightly by -0.32%.