(RTTNews) - In early European deals on Thursday, the euro registered gains against other major rivals as investors focus on the European Central Bank, which is due to announce its decision on interest rates at 7:45 am ET.
Analysts expect the ECB to keep rates unchanged at 1%.
The euro rose to a 2-day high against the franc, 6-day high against the dollar and recovered from a 3-day low against the pound.
At 5:23 am ET, U.K's FTSE 100 was up by 10.30 points or 0.2%, Germany's DAX gained 30 points or 0.5% and France's CAC 40 garnered 40 points or 1.2%.
The euro was also supported by a German consumer price inflation report released at 2:00 am ET, which showed a continuous rise in May
A final report from the Federal Statistical Office showed today that the consumer price index (CPI) rose 1.2% year-on-year in May, faster than 1% in the previous month. It was the seventh annual increase in a row. On a monthly basis, the CPI rose 0.1% in May, reversing the 0.1% fall in April.
The French April industrial production, Italian final first quarter GDP and the industrial production for April, which were also released today likely influenced the euro.
The euro rose against the yen during Thursday's early European session. As of now, the euro is trading at 110.00 against the yen, compared to Asian session low of 109.00. If the euro gains further, it may target around the 110.60 level.
At yesterday's close, the euro was worth 109.35 against the yen.
Japan's final first quarter GDP and the consumer confidence report for May released today likely influenced the yen.
The euro continued its gain against the U.S. currency in early European deals on Thursday. Presently, the euro is trading at a 6-day high of 1.2089 against the U.S. dollar, up from 1.1958 hit during early Asian session. On the upside, the euro may target around the 1.245 level. The euro-dollar pair closed yesterday's trading at 1.1986.
The euro has been extending its previous session's uptrend against the Swiss franc in early European deals on Thursday. As of now, the euro-franc pair is trading at 2-day high of 1.3823, an appreciation of 0.42% over yesterday's closing quote of 1.3764. The euro may target around the 1.395 level, if it advances further.
The euro-pound pair rose to 0.8276 at 4:40 am ET Thursday, from a 3-day low of 0.8232 hit during early Asian deals. The next likely upside target for the euro is seen around the 0.834 level. Presently, the pair is worth 0.8269, compared to yesterday's close of 0.8249.
