FXstreet.com (Barcelona) - European markets are going through gains beyond 1% with risk appetite at high levels as investors observe weak U.S. labour markets as a guarantee for low interest rates for some time, and G20's agreement to maintain stimulus efforts. The Dollar has weakened and Euro and Pound rose to multi-week highs.
Eurostoxx 50 Index advances 1.3%, while German DAX Index rises 1.35%, and the French CAC Index rises 1.2%. In the UK, the FTSE Index adds 1.0% in the first hours of trading.
Stock markets have remained in a bid tone in absence of key macroeconomic data, although supported by G20's commitment to maintain economic stimulus measures on concerns about the strength of incipient global economic recovery.
Euro reaches 1.5000 level
EUR/USD has rallied strongly during the day and, from Asian session low t 1.4850, the Euro has broken through resistance level at 1.4950 to reach a session high at 1.4997 on an attempt to break psychological resistance at 1.5000.
GBP/USD has gained more than 200pips during the day, and from 1.6615 Asian session low, the Pound has soared past 1.6800 reaching levels at 1.6840 at the moment of writing.
USD/JPY rose from 89.70 low during early Asian session, to return to levels above 90.00 ahead of the European session although the pair has been capped at 90.25 and trades at 89.95 at the moment of writing.