FXstreet.com (Barcelona) - European markets are going through losses on Wednesday as concerns over the global economy seems to have increased on the back of Alcoa's quarterly report opening the doors fro some more disappointing corporate earnings figures. Major currencies remain in range.
Eurostoxx 50 Index is dropping by 1.05%, while German DAX Index loses 0.93% and French CAC Index trades 1.14% below the opening levels. In London FTSE Index drops 0.83% at midday time in Europe.
In the macroeconomic front, German Factory orders have continued dropping at fast pace, 3.5% down in February, and 38.2% below the level of February last year. While , in the UK, shop prices have increased at a 2.0% year on year pace in march, slightly above the 1.9% growing pace posted in February
Majors in range on low volatility session
USD/JPY has attempted to climb back towards 99.90 resistance level during the European trading session after having bounced at 99.45, although the pair remains right below the mentioned resistance.
EUR/USD seems to have found an strong enough support level at 1.3165, and the pair has picked up during the European session reaching at the entrance of the 1.3225/40 resistance level.
GBP/USD has bounced at 1.4640 level after its decline from 1.4775 high yesterday, and the pound has reached right at 1.4710 resistance level at the time of writing.