Asian session: the euro slid

The euro slid for the sixth time in eight days against the dollar before data that may add to signs that Europe’s debt crisis is damping economic growth. The 17-nation euro dropped versus the yen ahead of reports forecast to show that manufacturing in Germany and France, Europe’s two biggest economies, weakened this month.

Canada’s dollar advanced against the majority of its most-traded counterparts after a report showed retail sales grew in September at the fastest pace in a year, improving the outlook for economic growth. Canada’s currency rose from almost the lowest level in more than six weeks versus the U.S. dollar, rallying after the International Monetary Fund revamped its credit-line program to help countries facing outside shocks.

The Australian dollar declines after HSBC Holdings Plc and Markit Economics said a China purchasing managers’ index was at 48.0 for November, according to a preliminary reading, compared with a final reading for October of 51. A number below 50 indicates a contraction. China is Australia’s largest trading partner and New Zealand’s second-biggest export market. The Aussie has dropped 7.3 percent against the U.S. currency this month and the kiwi has declined 7.8 percent.

EUR/USD: on Asian session the pair fell.

GBP/USD: on Asian session the pair decreases.

USD/JPY: on Asian session  the pair holds in range Y76.95-Y77.05.

A full calendar Wednesday, with a slew of US data ahead of the Thanksgiving break. European data gets under way at 0700GMT, with the release of the German Sept construction orders data. A host of French data is released at 0745GMT, with the release of Oct manufacturing, services and construction sentiment. At 0750GMT, French November flash PMI data is released. At 0800GMT, German Chancellor Angela Merkel gives a budget speech in the German parliament. More flash PMI data from 0820GMT, with the release of German data, with EMU flash data expected at 0850GMT. Further EMU data is up from 1000GMT, with the release of the EMU Sep industrial orders data. European speakers are up from 1100GMT, with the ECB Vice President Vitor Constancio lecturing on the International Monetary System, in London. At 1130GMT, the European Commission adopts new economic governance proposals, presents a green paper on Eurobonds, and presents 2012 Annual Growth Survey. UK data starts at 0930GMT, with the release of the October BBA banking data and the UK BOE minutes. The BOE voted for unchanged policy at this month's meet and the vote was likely to have been unanimous, However, many members are appearing to up their calls for further QE and many will be looking from hints in the minutes of any future timing.