European markts higher on recovery hopes; Euro and Pound, in range

Investors optimism, buoyed by recent signs of economic recovery, has continued fuelling European markets, which have opened Friday's session in a bid tone. Euro and Pound remain trading below key levels.

Eurostoxx 50 Index rises 0.50%, while German DAX Index adds 0.54%, and the French CAC Index trades 0.60% above its opening level. In the UK, the FTSE Index advances 0.64% on early trade.

Stock markets around the world are going through steep rallies since March, and in the case of European markets, GDP figures from Euro Zone's main economies, Germany and France, returning to growth levels, have triggered a wave of risk appetite that maintains equities' upward path even during summer holidays period.

Euro and Pound, below key levels

EUR/USD remains moving at levels close to 1.4300 resistance after its rally from August 12 low at 1.4085. The Euro trades at 1.4280 ahead of the release of Euro Zone's CPI data.

GBP/USD spiked down from levels above 1.6550 support to 1.6485 low, as EUR/GBP hit August high at 0.8653, although the Pound managed to pick up and trades right below 1.6550 at the time of writing.

USD/JPY remains unable to take off from 95.05 level which remains under pressure as the Dollar declined from Yesterday's high at 96.45.