FXstreet.com (Barcelona) - European markets, which opened the week with declines above 1.0%, have trimmed losses on a softer than expected decline in Euro Zone's CPI. Euro 'picks up slightly, while the Pound remains at low levels.
Eurostoxx 50 Index declines 0.40%, while German DAX Index drops 0.53% and French CAC Index trades 0.36% below its opening level. UK markets are closed for Bank Holiday.
On the macroeconomic area, the only relevant data so far has been Euro Zone's Estimate CPI,, 0.2% down in August from the same month last year, a softer decline than the 0.3% forecasted by market analysts. In July, Euro Zone CPI dropped 0.7% year on year.
Euro picks up, Pound remains around day lows
EUR/USD decline from 1.4385 high on Friday extended to 1.4255 low ahead of the European session opening, and the pair picked up during European trading hours to reach levels right below 1.4300 at the time of writing.
GBP/USD decline from 1.6380 high on Friday has extended to levels below 1.6200, and the pound hit a session low at 1.6180 before attempting to recover and being rejected at 1.6235 previous support, sending the pair back below 1.6200.
USD/JPY decline from 94.05 high on friday has found support at 92.55 low, and the Dollar has appreciated during European session to reach levels right above 93.00 at the moment of writing.