FXstreet.com (Barcelona) - European stock markets have opened with gains on Thursday as news of the Japanese government's plan to inject $ 154 billion to kick start economy seem to have cheered investors. Euro and Pound trading sideways ahead of Easter holidays.
Eurostoxx 50 gains 0.84% while German DAX Index adds 0.92% and French CAC Index rises 0.58% one hour after the opening. London FTSE Index adds 0.73% minutes after the opening.
In the macroeconomic domain, UK PPI has posted the weakest annual gain in two years, with Input PPI dropping 0.4% and Output PPI 2.0% up. U.K trade deficit has widened slightly to 3.2 billion pounds in February from 3.1 billion in January.
The Pound weakened in European session
The GBP/USD has been rejected by the 1.4780 resistance level on early European session and has dropped about 150 pips to 1.4630 support, which, so far remains intact.
EUR/USD has risen to resistance level at 1.3300/10 ahead of the European session opening and remains trading in a narrow range both sides of that level.
USD/JPY remains trading around the 99.90 and 100.20 levels after having bounced up at intra-week low at 99.30 on Asian session.