FXstreet.com (Barcelona) - European markets have pared mild losses of the first hours and they are mixed at midday time in Europe, while the Dollar is posting an slight recovery against Pound, Yen and Euro
After having opened with losses about 1%, European markets have picked up and they swing between positive and negative territory at midday. Eurostoxx 50 edges down 0.05% while German Dax adds 0.29% and French CAC loses 0.34%.
On the macroeconomic domain, Eurozone Industrial production has posted its largest decline since records began, 17.3% down in January from the same month last year.
Dollar picks up in European session time
Against the Euro, the Dollar is fighting back and the logical correction after yesterday's rally seems to be taking place; EUR/USD has been rejected at yesterday's two-month high at 1.3735, and dropped through 1.3616, to test Mar 18 high at 1.3535.
Against the Sterling, The Dollar has taken back about 150 pips as the pair, on rejection from intra-day high at 1.4595, has dropped to day low at 1.4430, the level is being under attack at the moment, and in case of success to break it, the path would be clear towards 1.4335 (Mar 18 high).
The USD has risen from 94.49 to 95.70 in the last hour in a quick spike of around 120 pips. Currently, the pair is testing 95.50/60 resistance level.