FXstreet.com (Barcelona) - European markets are flat on Thursday after the first two hours of trading, with investors reluctant to enter the markets ahead of the release of third quarter's U.S. Gross Domestic Product. Euro and Pound have trimmed losses from yesterday's declines.

Eurosttoxx 50 Index edges up 0.1% with the German DAX and French CAC Indexes trading practically at opening levels. In the UK, the FTSE Index remains flat as well.

On the macroeconomic front, Euro Zone's consumer confidence ticked up to -18 in September from -19 in August, while industrial confidence rose to -21 from -24 in September. Somewhat earlier, German unemployment posted a 26,000 net decline in October, with the jobless rate down to 8.1% from 8.2% in September.

Euro and Pound, trim losses

EUR/USD decline from 1.5060 has bottomed at to 1.4680 low during Asia session, and the pair and bounced up reaching levels above 1.4750 during European session, having hit 1.4760 session high so far.

GBP/USD has bounced at 1.6335 during Asian session, and the pair has advanced on slightly improved mood during Asian session, to test Thursday high at 1.6465 at the moment of writing.

USD/JPY retreat from 92.30 high on Monday has bottomed at 90.25 low on Thursday's Asian session, and the Dollar has picked up to 90.82 session high. At the moment of writing, the pair trades at 90.65.