FXstreet.com (Barcelona) - European markets have turned to negative figures after a slightly upbeat opening after Euro Zone unemployment rate increased to 10 year high. Euro and Pound remain trading rangebound after their respective recovery moves were capped on Wednesday.
Eurostoxx 50 Index sheds 0.2%, while the German DAX Index remains flat, and teh French CAC drops 0.4%. In the UK, The FTSE Index trades practically at opening levels.
On the macroeconomic front, Eurozone unemployment ticked up to 9.6% in September,the highest level since 1.999, from 9.5% in August.
In the UK Manufacturing contraction disappointing the markets with the PMI declining to 49.5 in September, from 49.7 un August, against the market expectations of an increase to 50.3. PMI figures show expansion f the sector's activity in levels above 50 and contraction otherwise.
Euro and Pound trading in range
EUR/USD decline from 1.4670 Asian session high, several pips short of a seemingly tough resistance area at 1.4675,has found support at 1.4550 on early European trade, and the Euro has remained moving between 1.4550 and 1.4600 ever since.
GBP/USD is gathering strength, and supported bu EUR/GBP ddecline, the Pound's rebound on 1.5925 intra-day low has extended above 1.6000, and the pair approaches resistance area at 1.6110.
USD/JPY recovery from Wednesday's low at 89.35 has sttalled at 90.15, and the pair has eased to remain hovering at a narrow range right below 90.00.