The euro strengthened against the other major currencies in early European session on Friday amid risk appetite, as oil and metal prices rose and investors turned their attention to the G7 meeting of central bankers and finance ministers that could provide some clarity over the conduct of global monetary and fiscal policies.

The U.K.'s FTSE 100 index is currently up 1.38 percent or 83.71 points at 6,137, France's CAC 40 index is up 1.36 percent or 58.10 points at 4,340 and Germany's DAX is up 1.05 percent or 103.25 points at 9,899.

Crude oil for July delivery are currently up $0.10 at $48.77 a barrel. Crude oil price rose due to supply disruptions in Nigeria, Canada and Libya that softened global supply glut.

The markets are recovering after a subdued start in response to hawkish comments from Fed officials and in the aftermath of the FOMC April meeting minutes.

In other economic news, data from Destatis showed that the German producer prices declined 3.1 percent in April from last year, the same pace of decrease as seen in March but slightly faster than the 3 percent fall forecast by economists. Producer prices have been falling since August 2013. The 3.1 percent decrease was the biggest since January 2010 when prices slid 3.5 percent.

Data from the European Central Bank showed that the euro zone's current account surplus increased to a 4-month high in March. The current account surplus rose to EUR 27.3 billion in March from EUR 19.2 billion in February. This was the highest level since November. On an unadjusted basis, the current account surplus surged to EUR 32.3 billion from EUR 11.2 billion in February.

In the Asian trading today, the euro held steady against its major rivals.

In the European trading, the euro rose to more than a 3-month high of 1.1121 against the Swiss franc and a 2-day high of 0.7712 against the pound, from yesterday's closing quotes of 1.1091 and 0.7663, respectively. If the euro extends its uptrend, it is likely to find resistance around 1.12 against the franc and 0.80 against the pound.

Against the Canadian dollar, the U.S. dollar and the yen, the euro edged up to 1.4702, 1.1228 and 123.76 from yesterday's closing quotes of 1.4646, 1.1196 and 123.05, respectively. On the upside, 1.51 against the loonie, 1.14 against the greenback and 128.00 against the yen are seen as the next resistance levels for the euro.

Against the Australian and the New Zealand dollars, the euro edged up to 1.5521 and 1.6610 from an early 2-day low of 1.5466 and more than a 2-week low of 1.6535, respectively. The euro may test resistance around 1.60 against the aussie and 1.70 against the kiwi.

Looking ahead, Canada CPI for April and retail sales data for March and U.S. existing home sales data for April and weekly rig count data are slated for release in the New York session.

At 9:00 am ET, Federal Reserve Governor Daniel Tarullo is scheduled to deliver a speech titled "Insurance Company Supervision and Regulation" at the National Association of Insurance Commissioners International Insurance Forum in Washington DC.

Euro vs AUD (FX:EURAUD)
Forex Chart
Von Mär 2024 bis Apr 2024 Click Here for more Euro vs AUD Charts.
Euro vs AUD (FX:EURAUD)
Forex Chart
Von Apr 2023 bis Apr 2024 Click Here for more Euro vs AUD Charts.