CANBERA (Alliance News) - The euro moved down against its major rivals in European deals on Monday, after data showed that German consumer price inflation eased unexpectedly in December, and on sell-off in global stocks triggered by China woes. Preliminary data from Destatis showed that the consumer price index climbed 0.3% year-on-year, slower than a 0.6% gain seen by economists. This follows 0.4% increase in November. Prices fell 0.1% from the previous month, in contrast to expectations for a 0.2% increase. In November, the CPI edged up 0.1%. The European markets weakened, as disappointing manufacturing data contributed to the weakness among Chinese stocks, with the Shanghai Composite Index plummeting 6.9%. The steep drop by the index triggered a trading halt on the Chinese markets, with authorities utilizing new market circuit breakers for the first time. A report released by Markit and Caixin showed that their index of Chinese manufacturing activity fell to 48.2 in December from 48.6 in November. The reading below 50 indicates a continued contraction. The euro showed mixed trading in Asian deals. While the currency rose against the greenback and the pound, it declined against the yen and the franc. In European deals, the euro fell back to 1.0846 against the greenback, edging closer towards its early more than 3-week low of 1.0827. The euro is seen finding support around the 1.06 mark. The single currency depreciated to 129.34 against the yen for the first time since April 27, 2015. Continuation of the euro's downtrend may take it to a support around the 128.00 level. Reversing from an early 2-1/2-month high of 0.7424 against the pound, the euro weakened to 0.7351. If the euro continues slide, 0.72 is possibly seen as its next support level. Survey data from Markit Economics showed that the UK manufacturing sector growth eased unexpectedly in December, due to a further slowdown in growth of output and new orders. The Markit/Chartered Institute of Procurement & Supply Purchasing Managers' Index for manufacturing fell to 51.9 in December from 52.5 in the previous month The euro pulled back slightly from its prior new 4-week high of 1.0901 against the franc, trading at 1.0875. At last week's close, the pair was worth 1.0840. The euro retreated to 1.5097 against the loonie, off its early 6-day high of 1.5250. The currency is thus on course to violate its early multi-week low of 1.5015. The next possible downside target for the euro is seen around the 1.48 region. The euro eased to 1.5095 against the aussie, from its early near 2-week high of 1.5182. This may be compared to previous session's multi-week low of 1.4870. The euro is likely to challenge support around the 1.48 mark. The euro slipped back to 1.6081 against the kiwi, reversing from its early multi-week high of 1.6194. The currency has already set a 6-day low of 1.5873 in Asian trading. The euro may find support around the 1.58 area. Looking ahead, US manufacturing PMI reports for December and construction spending for November are slated for release shortly.

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