The euro weakened against its major counterparts in the European session on Friday, as a data showed that German private sector growth slowed for the third consecutive month in November, driven by a slowdown in expansion in service activity and manufacturing output.

Flash estimates from IHS Markit showed that the composite purchasing managers' index, or PMI, which combines manufacturing and services, fell to to a 47-month low of 52.2 from 53.4 in October. Economists had expected a score of 53.1.

The manufacturing PMI dropped to a 32-month low of 51.6 in November, from 52.2 in the previous month. Economists were looking for a reading of 52.2.

Meanwhile, European stocks were higher as investors await next week's G20 summit and the weekend EU summit on Brexit for directional clues.

In her statement to the House of Commons, British Prime Minister Theresa May said that the draft deal is good for both sides and allows Britain to control migration.

The currency was higher against its major counterparts in the Asian session, with the exception of the yen.

The euro declined to a 3-day low of 1.1365 against the greenback, from a high of 1.1421 hit at 1:30 am ET. The next possible support for the euro is seen around the 1.12 mark.

After rising to 128.92 against the yen at 10:45 pm ET, the euro reversed direction and slipped to a 2-day low of 128.30. The euro is seen finding support around the 126.00 level.

The euro reversed from an early high of 1.1355 against the Swiss franc, dropping to 1.1324. The euro is likely to find support around the 1.12 level.

The single currency reached as low as 0.8850 against the pound, down from a high of 0.8877 seen at 3:15 am ET. If the euro weakens further, 0.87 is possibly seen as its next support level.

The common currency weakened to a 4-day low of 1.5019 against the loonie, after rising to 1.5077 at 2:15 am ET. On the downside, 1.49 is likely seen as the next support level for the euro.

Reversing from its early highs of 1.5756 against the aussie and 1.6778 against the kiwi, the euro dropped to 1.5700 and 1.6700, respectively. The euro is poised to find support around 1.56 against the aussie and 1.66 against the kiwi.

Looking ahead, Canada retail sales for September and consumer inflation for October are due in the New York session.

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