Bourses in Europe up on China, EUR testing 1.3370

FXstreet.com (Edinburgh) -European markets are recovering from recent losses on Thursday, propped up by upbeat data from the Chinese trade balance, showing that both imports and exports have exceeded previous estimates. The single currency is prolonging its bullish momentum, with the EUR/USD climbing to fresh multi-week highs in the vicinity of 1.3380 and posting gains for the third consecutive day. The Spanish benchmark is leading the way, up 0.47% and followed by the CAC40 and the FTSE100, gaining 0.35% and 0.27%, respectively.

Markets in Asia closed in a mixed tone. The Nikkei225 dropped 1.59% followed by the Shangai index, 0.10%, while the Hang Seng advanced 0.49%. Better results from the Chinese external sector helped indices to recover from recent losses although the stronger yen kept weighing on the Japanese stocks markets.

Futures in the US markets point to gains in both the DJIA and the S&P500, 0.17% and 0.15%, respectively.