European markets advance on U.S. corporate earnings; Euro and Pound, higher

European markets are going through gains on Wednesday buoyed by better than expected earnings figures by Intel, which has given a boost to the technology sector. Euro and Pound hold gains against the Dollar.

Eurostoxx 50 Index advances 1.3%, while German DAX Index rises 1.1%, and the French CAC Index trades 1.2% up. In the UK, the FTSE Index rises 0.9% above its opening level.

Investors optimism has been buoyed by Intel quarterly earnings report which, despite its 7.8% decline on third-quarter's profits, has provided a strong outlook for the last quarter.

Euro and Pound remain strong

EUR/USD rally from 1.4675 low on Monday has extended to a fresh 2009 high on Wednesday's European session, as the Euro hits levels above 1.4900, trading at 1.4910 at the moment of writing, 0.35% up on the day, so far.

GBP/USD recovery from 1.5705 low on Tuesday, has extended above 1.6000 during European session, with the Pound trading at 1.6010 at the moment of writing, after hitting a fresh intra-week high at 2.6025.

USD/JPY decline from Asian session high at 89.90 has found support at 88.85, and the pair has reached levels right above 89.00 afterwards, trading around 89.10 at the moment of writing.