FXstreet.com (Barcelona) - European markets are going through gains on Tuesday, following a negative session on Monday, although volumes are rather low, as investors await key U.S. events later this week.

Eurostoxx 50 Index rises 0.9% while the German DAX Index adds 1.1% and the French CAC Index rises 0.9%. In the UK, the FTSE Index trades 0.9% up.

In the absence of key macroeconomic data today, markets await for the U.S. Federal reserve monetary policy meeting, which opens today to release its statement on Wednesday, and Thursday's G20 meeting, whose assessments about the economic outlook will be closely watched.

Euro hits another year high

EUR/USD Euro rebound on 1.4610 low on Monday has extended aggressively on early European session Tuesday, as the pair soared past Sept 17 high at 1.4767 to hit a fresh one year high at 1.4800.

GBP/USD has advanced on strong pace on early European session, taking advantage from Dollar weakness, to extend recovery from 1.6130, to levels past 1.6300, reaching session high at 1.6340 before easing to current levels around 1.6310.

USD/JPY pullback from 92.55 high on Monday has extended on European session to 91.15 low, giving away all the ground gained on Monday to pick up to 91.50 at the time of writing.