FXstreet.com (Barcelona) - European markets have opened the day on strong note following the path of Asia and Wall Street, as macroeconomic data seems to be feeding a new wave of risk appetite. The Pound has risen higher against Dollar.
Stock markets in Europe are going through gains above 3% in the first hour of trading, with the Eurostoxx 50 3.06% up and the German DAX Index adding 3.14%; French CAC Index has risen 3.06% in approximately one hour.
On the macroeconomic domain UK Nationwide house prices have risen in March for the first time since October 2007.
Pound stronger; USD/JPY approaching resistance levels
The Cable has been strengthening from 1.4325 level hit on yesterday's early U.S. session and its rally has accelerated ahead of the European session opening, past 1.4500 and rocketing towards 1.4585 level, fuelled by the increase on house prices .
USD/JPY has broken through 99.00 level and advances the path towards yesterday's high at 99.50.
Assault to 1.3300 resistance level ahead of the European session opening has failed and the Euro dropped 50 pips below on its way to 1.3240 support.