Thursday, 5 Nov 2009 The EUR gained against 14 of its 16 major counterparts as the Economy Ministry in Berlin is expected to report Friday that German factory orders rose 1% in September after gaining 1.4% in August.

The British Pound gained 0.9% on the day. The Pound gained on both the Dollar and the EUR, after a survey of purchasing managers indicated the U.K.'s services PMI saw activity rise at its fastest pace in more than two years. The Bank of England is expected to increase the amount of debt it will buy from the market in today's meeting.

The EUR rose to $1.4871 from $1.4712. The EUR jumped to 134.68 Yen from 132.91 Yen. The U.K. Pound strengthened to $1.6565 from $1.6412.

A heavy news day is expected from Europe today. The bank of England statement is due at 12:00 GMT and The European Central Bank is slated to gives its latest policy update at 13:30 GMT. The ECB is expected to keep rates at 1%. Furthermore, the GBP Manufacturing Production is expected to be released at 9:00 GMT.