FXstreet.com (Barcelona) - European markets are going higher on Thursday as Fed's economic assessment supported investors optimism and the belief of an economic recovery in the U.S. The Euro is struggling at intra-week highs.
Eurostoxx 50 index adds 0.67% while the French CAC Index rises 0.63% ad the German DAX index trades 0.75% above its opening level. In the UK, the FTSE Index rises 0.79%.
On Wednesday, Fed officials arose risk appetite by affirming that U.S. economy was leveling out, while affirming that their $300 billion plan to buy Treasuries will come to an end in October. Furthermore, unexpected increased on German and French GDP in the second quarter have added optimism to the markets.
Euro and Pound pick up
EUR/USD bounced yesterday at 1.4090, two-week low and confirmed above 1.4200 on the back of Fed's brighter economic assessment. During the European session so far, the Euro has broken above 1.4245 week high and trades around 1.4265 at the moment of writing.
GBP/USD bounced yesterday at 1.6385 and broke above 1.6500 ahead of the European session opening to hit an intra-day high at 1.6600 before pulling down. At the moment, the Pound trades around 1.6555 resistance area.
USD/JPY bounce at 95.10 low on Wednesday has extended above 96.00, and the Dollar reaced levels at 96.30 resistance area, which is being tested at the moment.