FXstreet.com (Barcelona) - European markets have opened Friday's session with moderate gains, driven by energy stocks, with investors focused on December's U.S. non-farm payrolls report, due later today. In FX markets, Euro and Pound are trying to come back after yesterday's declines.
Eurostoxx 50 Index and the German DAX Index advance 0.3%, while the French CAC Index trades 0.4% up. In the UK, the FTSE Index edges 0.2% up in the first two hours of trading.
Shares of utility companies are leading gains supported by the current cold wave, with most European countries with temperatures below zero. Furthermore Deutsche Bank and Barclays rose 2.4% and 3.7% respectively after UBS upgraded their stocks to buy.
Euro and Pound attempting recovery
GBP/USD has bounced up on early European session after having remained consolidating between 1.5900 and 1.5950, and the pair broke through 1.60, to hit session high at 1.6040, getting back most of the ground lost on Thursday, and approaching resistance at 1.6060/70 (Jan 6/7 high).
EUR/USD is also attempting recovery, and after bouncing at 1.4285 low ahead of Frankfurt opening, the pair has reached 1.4335 before easing to levels around 1.4320 at the moment of writing.
USD/JPY rally from 91.25 low on Tuesday has been rejected at 93.775, fresh 4-month high, and the pair pulled back during Asian session to hit 92.85 low on early Asian session. At the moment, the pair trades around 93.05; 0.35% below its day opening price.