FXstreet.com (Barcelona) - European markets have opened Friday's session with losses, weighed by banks and insurance firms, with investors awaiting key U.S. Non-farm payrolls report to determine the pace of U.S. economic recovery. In FX markets, Euro and Yen remain mostly range bound while the Pound piked up from Asian session lows.
Eurostoxx 50 Index trades 0.5% down, with the German DAX Index dropping another 00.5%, and the French CAC Index dips 0.45%. In the UK, the FTSE index trades 0.40% down in the first hours of the session.
Investors remain cautious in a nervous expectancy ot U.S. non-farm payrolls report, specially after Wednesday's ADP employment report showing that new payrolls in the private sector posted a larger than expected decrease in November and services sector's activity contracted in November, according to PMI.
Pound bouncing up; Euro and Yen remain sideways
GBP/USD decline from 1.6720 high on Thursday found support at 1.6520 on Asian session, and the pair has soared on early European session to reach 1.6640 high, before easing to levels right above 1.6600. At the moment, the Pond trades at 1.6620; 0.45% above its day-opening price.
EUR/USD decline from 1.5040 high on Thursday held at 1.5035, and the pair attempted to break high on European session but it was capped at 1.5090. At the moment, the Euro moves around 1.5060.
USD/JPY remains moving in a range between 88.00 and 88.35, after recent recovery from 84.80 high on November 27 was capped at 88.45 on Thursday.