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European stocks mixed; Euro and Pound, rangebound

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FXstreet.com (Barcelona) - European markets are mixed at very low levels the first hours of trading on Wednesday, as investors assimilate the latest string of quarterly earnings to make assessments about the pace of economic recovery: Euro and Pound remain floating within tight ranges.Eurostoxx 50 Index remains practically unchanged two hours after the opening bell, while German Dax Index drops 0.27%, and French CAC Index trades 0.27% above its opening level. In the UK, the FTSE Index sheds 0.21%.On the macroeconomic domain, Eurozone and Germany's services sector's activity has continued contracting in July, although at a substantially slower pace than in previous months, while UK services sector's activity grew for its second consecutive time.Following with UK, manufacturing activity rose 0.4% month on month in June, the largest increase since January 08, and Industrial output increased 0.5% on the month, the largest increase since October 07. Year on year Manufacturing output fell 11.7%, while Industrial production fell 11.1%.Euro and Pound remain trading in rangeGBP/USD launched an attack to the 1.7000 resistance level after UK manufacturing and services data was released, although the Pound turne3d down after hitting a fresh intra-day high at 1.7008.EUR/USD remains trading in a range from 1.4370 to 1.4430. The Euro picked up on early European session but turned down at 1.4400 after disappointing EU retail sales data, and trades around 1.4385 at the moment of writing.USD/JPY decline from 95.40 Asian session high find support at 94.87 ahead of the European session opening, and the Dollar rose to levels above 95.00, reaching 95.15 at the time of writing.
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