FXstreet.com (Barcelona) - European markets are going through losses on Tuesday as investors take profits after Monday's rally, ahead of a rather full busy week on economic data matters. Euro and Pound have dipped during European session giving away Asian session's gains.

Eurostoxx 50 index drops 0.5%, while German Dax Index declines 0.7%, and the French CAC Index sheds 0.6%. In the UK, the FTSE Index dips 0.45% three hours after the opening time.

On the macroeconomic domain, UK GDP has been revised to a 0.6% decline in the second quarter, from a 0.7% decline previously estimated, while the 5.5% year on year decline has been left unrevised. In the Euro Area, Consumer confidence has risen to -19 in September, 11, month high, from a reading of -22 in August.

Euro and Pound dip further

EUR/USD has given away all the ground gained in Asian session, as the pair declined from 1.4645 to hit a fresh 2-weeks low at 1.4555. The Euro trades at the moment, at 1.4575.

GBP/USD rose during Asian session to reach 1.5955 high ahead of the European session opening, and the pair has dropped to 1.5825 low on early European session, to pick up later and reach 1.5900 at the moment of writing.

USD/JPY recovery from Monday's low at 88.20 has reached 90.20 hgh during Asian session, and the pair has eased to 89.60 low during European session.