FXstreet.com (Barcelona) - European markets are going through moderate advances on early session Friday after better than expected earnings figures by Oracle Corp fuelled the technology sector. In FX markets, Euro and Pound are trying to pick up from multi-month lows.
Eurostoxx 50 Index adds 0.45%, while the German DAX Index advances 0.6%, and the French CAC Index trades 0.3% uo. In the UK, the FTSE index edges 0.1% up.
Regarding macroeconomics, German Ifo business climate index has improved to a reading of 94.7 in December from 93.9 in November, while the index measuring the assessment about current economic conditions has risen to 90.5 in December from 89.1 in November.
Furthermore, UK business climate index fell in the third quarter for the fifth consecutive time, although the declining pace has slowed down. Business investment fell 0.6% on the quarter and 19.9% year on year, compared to a 3.0% quarterly and 21.7% yearly drop in the second quarter.
Euro and Pound, trimming losses
EUR/USD dropped to a fresh 3-moth low at 1.4300 during Asian session, and the Euro has bounced up to 1.4400 area, which is being tested at the moment.
GBP/USD rebound from 1.6080, 2-months low hit on Thursday, has extended to 1.6250 high on early European session, where the pound has found resistance and retreated to 1.6200 area.
USD/JPY retreated from 90.35 high on Tuesday and found support at 88.90 during Asian session, to bounce up later and climb through 90.00 on early European session and approach 90.35 high at the time of writing.