FXstreet.com (Barcelona) - European stock markets have opened the week in positive levels, on the back of increased risk appetite supported by the worst of the global economic crisis has been left behind. The Euro has eased and Pound consolidated gains while the Yen remains at 5-months low.
Eurostoxx 50 index is going through gains by 1.05% with German DAX 90.91% up and French CAC 1.08% up: London FTSE Index adds 0.98%.
Macroeconomic data has failed to cheer investors, with retail sales in the Euro Area posting the steepest yearly decline; 4.0% down in February, instead of the 2.0% decline expected, and Producer Prices recording a 1.8% year on year decline, the largest in 10 years.
Euro drops from high levels, Yen declines further
The Euro seems to have The Euro has lost in European session most of the ground taken during Asian session, and trades below 1.3525 support level, on its way towards 1.3475.
GBP/USD moves around 1.4900 level, after having reached a session high at 1.4950 on its rally from 1.4840 Asian session opening price.
USD/JPY has reached 101 35 resistance level during the European session and the pair is trying to break above it at the moment. The Dollar has appreciated 0.98% against the Yen from the opening price at 100.30.