FXstreet.com (Barcelona) - European markets have opened Friday's session on weak note, on cautious trading ahead of the key U.S. Non Farm Payrolls report, after a string of downbeat economic indicators in the U.S. Dollar has strengthened across the board as risk appetite waned.
Eurostoxx 50 Index declines 0.95%, while the German DAX Index sheds 0.7%, and the French CAC index drops 1.1%. In the UK the FTSE Index drops 0.4% in the first hours of trading.
Investors await the U.S. Non-Farm payrolls report for clues about the pace of recovery in U.S market analysts expect a decline of about 175,000 employments. labour market, after downbeat data yesterday on U.S. Jobless claims and ISM manufacturing.
Dollar continues ticking higher
GBP/USD has continued trading lower from 1.6125 high on Sept 30, as the pair's attempt to bounce from 1.5880 was capped at 1.5950, sending the Pound down to session low at 1.5865. The Sterling has picked up later, reaching levels right at 1.5900 at the time of writing.
EUR/USD is moving in a range from 1.4520 to 1.4560 after testing Sept 10 low at 1.4500 during Asian session. On a wider point of view, The Euro is shaping a steady downward pattern since it topped at 1.4845, 13 month high.
USD/JPY continues weakening, pulling down from 90.40 high on September 30, the pair attempted to pick up from 8920 session low although it was halted at 89.60 area and the Dollar dropped back to levels around 89.30 at the moment of writing.