FXstreet.com (Barcelona) - European markets continue going through gains at midday time in Europe despite negative unemployment data in Germany, and the slowest CPI on record in the Euro Zone. The Euro squeezes higher against the Dollar.
Eurostoxx 50 index is recording gains by 1.22% while German DAX Index adds 0.95% and French CAC gains 1.42%.
On the macroeconomic domain, German unemployment figures showed that Eurozone's first economy continues destroying employment at a rather fast pace, while the European CPI rose at its slowest year on year pace since record are taken in 1996.
Euro above resistance
After having remained below resistance level for the whole European session, the Euro finally broke above 1.3275/85 level reaching intra-week high at levels right above 1.3300, aiming towards next resistance at 1.3340.
The Pound seems to be on a consolidation phase after rally from yesterday's low at 1.4110. Sterling has remained trading between 1.4340 resistance level and 1.4255 support .
USD/JPY uptrend move from 95.95 low yesterday seems to have stalled at 98.40 resistance level and the pair has been moving in a narrow below the mentioned level through the whole European trading session.