European markets, flat ahead of U.S. NFP; Euro and Pound below week highs

Fri, Nov 6 2009, 10:23 GMT
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FXstret.com (Barcelona) - European markets remain practically at opening levels after two hours of trading as caution dominates the session ahead of key U.S. non farm payrolls report. Euro and Pound remain floating at levels right below week highs.

Eurostoxx 50 Index edges up 0.1% while German DAX Index and the French CAC Index remain at its opening level. In the UK the FTSE Index adds 0.2%.

On the macroeconomic domain, UK Producer Prices rose above expectations in October, announcing the return of inflationary pressures. Output PPI rose at at a 0.2% pace in October, and 1.7% year on year. Input PPI advanced 2.6% in October and 0.1% year on year.

Euro and Pound, right below week highs

EUR/USD remains crawling higher after bouncing at 1.4945 on its retreat from yesterday's high at 1.4915, and the Euro has been going up steadily to reach 1.4900 at the moment of writing.

GBP/USD remains consolidating in a range from fresh 2-weeks high at 1.6535 to support level at 1.6560. The Pound has launched an assault to 1.6635 during early European session, failed, and, at the moment of writing, the pair trades at 1.6605.

USD/JPY is trading lower today declining from Asian session high at 90.85 to 90.40 session low. On a wider perspective, the pair remains trading within a range from m89.85 to 91.30.

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