FXstreet.com (Barcelona) - European markets are little changed on early trade Tuesday, with some positive earnings reports supporting investors confidence, although recent upward momentum has definitely faded. In FX markets, Euro and Pound remain rangebound, consolidating after recent sell-offs.
Eurostoxx 50 Index edges down 0.1% and the German DAX Index declines by the same percentage. French CAC Index remains practically flat. In the UK, the FTSE Index trades at opening levels.
Energy stocks have advanced on early trade after UK BP PLC third quarter's earnings beat experts expectations by a narrow margin. The pan European oil and gas Index advanced 2.3%.
Euro and Pound remain at lower levels
EUR/USD attempted to set a base at 1.4845 but its recovery has been capped at 1.4925 on early European session, and the pair has retreated back to 1.4865. At the moment, the pair trades at 1.4880.
GBP/USD has returned to the upside, and after bouncing at 1.6285 on Asian session times, the pair has reached session high at 1.6415 and is trying to consolidate above 1.6395/00 resistance area at the moment of writing.
USD/JPY pull back from 92.33 one-month high has extended below 92.00, reaching 91.80 session low so far.