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Wednesday, December 16, 2009

Angelina Jolie what a beauty

European markets are going through gains on early trading Thursday, with investor's appetite fuelled after positive Eurozone PMI flash estimates; in FX markets Euro remains consolidating after Tuesday's declines.

Eurostoxx 50 Index trades 0.9% up, while German DAX Index advances 0.8%, and French CAC Index adds 0.9%. In the UK, the FTSE Index trades 0.8% up.

On the macroeconomic Eurozone Manufacturing Flash PMI index has ticked up to 51.6 in December ftrom 51.2 in November, while services Flash PMI has been estimated to rise to 53.7 in December from 53.0 in November, showing that Eurozone's manufacturing and services sectors' activity continues growing after a log slump.

Furthermore, UK jobless claims fell in November for the first time since February 08, a decline of 6,300 claims , to 5.0% of the workforce, against market expectations of a 12,300 increase.

Euro and Pound remain in range

EUR/USD remains consolidating between 1.4500 and 1.4560/70 area after its decline from 1.4650 area on Monday. At the moment of writing, the Euro is trading at 1.4560 testing session high, after jumping from 1.4520 on positive flash PMI's.

GBP/USD remains trading within the 1.6200/1.6345 range. During European session, the Pound has dropped to 1.6230 day low before bouncing up to 1.6300 on the back of upbeat employment figures, although 1.6300 has not given way so far, and the Pound trades at 1.6280 at the moment of writing.

USD/JPY pullback from Tuesday high at 89.95 found support at 89.40 on early European session, and the Dollar rose to 89.85 high so far, approaching yesterday's high and 90.00 resistance area.

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