FXstreet.com (Barcelona) - Asian markets are going through moderate advances on Thursday as investors expect improvement in major companies third quarter's earnings reports. Euro and Pound have bounced up while the Dollar dropped against Yen.

Japanese Nikkei Index edged up 0.2%, while Hong Kong's Hang Seng Index rose 0.4%, and South Korean Kospi Index added 0.1%. In Australia, the S&P Index rose 1.4%.

Asian markets went up following a mixed closing on Wall Street, with investors cautious ahead of quarterly earnings reports. However, sentiment improved on the back of Alcoa. Inc's earnings report, as the aluminum maker announced its first positive quarter after three quarters with losses.

Euro and Pound return to key levels

EUR/USD pullback from Tuesday's high at 1.4760 found support on Wednesday at 1.4650 and the Euro bounced up during U.S. and Asian session to hit a fresh 2-week high at 1.4773, although the Euro, s far, remains capped at 1.4760/70 resistance area.

GBP/USD decline from 1.6050 high on Tuesday found support on Wednesday at 1.5855 low, and the Pound rallied duing U.S. and Asian sessions reaching back to levels right above 1.6000 resistance area, which so far remains intact, and the Pound trades at 1.5990.

USD/JPY decline from 90.00 area on Monday reached a fresh 8-month low at 88.00 on Wednesday, and the Dollar bounced strongly on early U.S. session to reach 89.40 although, unable to hold at those levels, the pair has dropped back to levels right above 88.00 at the moment of writing.

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