FXstreet.com (Barcelona) - European markets are swinging between positive and negative levels on a choppy session with travel and leisure sector favoured by Iberia and British Airways merge. Euro and Pound have bounced from Thursday's lows.
At the moment of writing, Eurostoxx 50 index edges 0.1% down, while the German DAX index adds about 0.1% and the French CAC Index drops 0.4%. In the UK, the FTSE Index remains flat two hours after the opening bell.
On the macroeconomic side, Eurozone Economy advanced in the third quarter of 2009 after five consecutive quarters in recession. GDP rose 0.2% in the quarter and fell 4.1% year on year, yet below the 0.6% advance expected by market analysts.
Euro and Pound trim yesterday's losses
EUR/USD recovery from 1.4820 low on Thursday has extended during early European session up to 1.4900 high, to ease to afterwars to 1.4865. At the moment the Euro trades at 1.4875; 0.17% above its opening level.
GBP/USD has extended its recovery from 1.6515 low ion Thursday, up to 1.6690/00 resistance area which has capped the pair. At the moment, Pound trades at 1.6680; 10.62% above its opening level.
USD/JPY has failed to break above 90.40 level on early European session, and the pair has plunged to 89.70 low, giving away all the ground taken on Thursday's rally.