(fxcue news) - The euro weakened against other major currencies in the European session on Friday, as traders bet a possibility of an interest-rate cut by the European Central Bank (ECB) after data from Germany and the Eurozone showed that the business activity in the private sector contracted in November. Concerns about trade war with the United States (US) have already caused most European Central Bank (ECB) officials to worry about sluggish growth. Data from S&P Global showed that the euro area private sector fell back into contraction in November. The composite output index registered 48.1 in November, which was a ten-month low, and down from 50.0 in October. The renewed decline in output was recorded as business activity in the service sector decreased for the first time in ten months, joining manufacturing in contraction territory. Germany's private sector continued to contract in November as sustained weakness in manufacturing output was compounded by the first fall in services activity for nine months. The HCOB composite output index dropped to 47.3 in November from 48.6 in the previous month. The score signaled acceleration in the rate of decline in activity to the quickest since February. Services business activity fell into contraction for the first time in nine months in November. The services PMI registered 49.4, down from 51.6 in the previous month. The expected score was 51.8. France's private sector contracted the most since January as prolonged weakness in demand damped expectations. The flash HCOB composite output index fell markedly to 44.8 in November from 48.1 in October. The factory PMI posted 43.2, which was down from 44.5 in October. The indicator was expected to edge up to 44.6 In economic news, data from Destatis showed that German economy grew marginally in the third quarter after a contraction, preventing a technical recession. Gross domestic product posted a sequential growth of 0.1 percent in the third quarter. The rate was downgraded from 0.2 percent estimated on October 30. In the second quarter, GDP shrank 0.3 percent. Although the economy avoided a technical recession with the third quarter growth, the pace of expansion was only marginal. Economic data updates from the region as well as the lingering geopolitical concerns are however seen swaying market sentiment. In the European trading now, the euro fell to nearly a 10-year low of 0.9206 against the Swiss franc, a 2-year low of 1.0333 against the U.S. dollar and nearly a 2-month low of 159.91 against the yen, from early highs of 0.9295, 1.0499 and 159.91, respectively. The euro is likely to find support around 0.90 against the franc, 1.02 against the greenback and 158.00 against the yen. The euro slipped to nearly a 2-week low of 0.8268 against the pound, from an early 2-day high of 0.8347. On the downside, 0.81 is seen as the next support level for the euro. Against Australia, the New Zealand and the Canadian dollars, the euro slid to nearly a 1-1/2-year low of 1.5968, nearly a 2-month low of 1.7746 and more than a 9-month low of 1.4489 from early highs of 1.6134, 1.7965 and 1.4657, respectively. If the euro extends its downtrend, it is likely to find support around 1.58 against the aussie, 1.76 against the kiwi and 1.40 against the loonie. Looking ahead, Canada new housing price index for October, retail sales for September, U.S. PMI data for November, U.S. University of Michigan consumer sentiment for November and U.S. Baker Hughes weekly oil rig count data are slated for release in the New York session.