FXstreet.com (Barcelona) - European markets are practically flat on early trade Friday after investors' optimism seen in Wall Street after U.S. Gross Domestic Product's advance seems to have faded. Euro and Pound consolidate under Thursday's highs.

Eurostoxx 50 Index remains practically at opening levels, while German DAX and French CAC Indexes edge up 0.1% each. In the UK, the FTSE Index adds 0.5%.

In the macroeconomic domain, Euro Zone CPI edged down 0.1% in October, posting its fifth consecutive decline, while the EU unemployment level ticked up to 9.7% in September from 9.6% in August.

Today's focus remain on the U.S, with investors awaiting University of Michigan's Consumer Sentiment Index and ISM manufacturing data to assess the strength of U.S. economic recovery

Euro and Pound in range below Thursday's highs

EUR/USD remains moving within a range from 1.4820 to 1.4850/55, Thursday's high after uts recovery from 1.4680 low. The Euro tested 1.4800/15 support in early European session, which did not give way, and the pair trades at 1.4845 at the moment of writing.

GBP/USD rally from Thursday's low at 1.6335 reached a fresh intra-week high at 1.6603 and the Pound has remained consolidating in a range roughly from 1.6520 to 1.6575, although the lower band of the range has been tested, with the Pound dipping to 1.4505 session low, before bouncing to 1.6535 at the moment of writing.

USD/JPY rallied on Thursday up to 91.60 where the pair was rejected, and the Dollar has dropped ever since to reach levels right below 91.00. At the moment, the Dollar is trying to hold above 90.80 support level.

In the macroeconomic domain, Euro Zone CPI edged down 0.1% in October, posting its fifth consecutive decline, while the EU unemployment level ticked up to 9.7% in September from 9.6% in August.

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