European markets open in a moderate bid tone; Euro weakens

By IBTimes Staff Reporter | January 15 2010 4:57 AM

FXstreet.com (Bacrelona) - European markets have opened Friday's session with moderate advances lead by technological sector, on better then expected earnings by Intel and with investors focusing on the release of quarterly earnings from JP Morgan and Chase. Euro and Pound are weakening while Dollar and Yen show strength.

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Eurostoxx 50 index advances 0.4% while the German DAX Index adds 0.25% and the French CAC Index advances 0.5%. In the UK, the FTSE Index advances 0.2% two hours after the opening bell.

Stocks on the technological sector are leading gains on European markets, after Intel fourth quarter's earning reports showed a 28% year on year increase in the chipmaker's revenue. Intel's earnings per share reached 40 cents, beating expectations of 30 cents

Euro weakens; Dollar and Yen up

EUR/USD decline from levels above 1.4500 in Asian session have extended below 1.4405 week low at on early European trade, and the pair has hit a fresh week low at 1.4377 to pick up to levels right above 1.4400 shortly afterwards. At the moment, the Euro attempts to pick up, trading at 1.4410.

GBP/USD rally from 1.5895 area on Jan 7 has stalled right above 1.6350 ahead of the European session opening, ad the pair has eased to levels right above 1.6300 on European trade.

USD/JPY recovery from 90.70 low on Tuesday 12 was caped on Thursday at 92.05 high, and the Dollar's pullback extended during Asian session to hit a fresh 3-week low at 90.65 on early European session. At the moment of writing, the Dollar trades at 90.75.

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