The European session markets have been shown with some published data from the European Zone which sees the German economy on the verge of a slump.
The preliminary estimate of Gross Domestic Product (KDNK) data showed Europe's largest economy was unchanged in the second quarter, missing expectations for a 0.1% increase.
Meanwhile in France, the economy improved in the second quarter by growing 0.5% instead of the 0.2% close recorded in the first quarter.
The European Zone user price index (CPI) preliminary reading unexpectedly increased to 8.9% in July from 8.6% posted in June.
This shows that price pressures in Europe continue to increase after the European Central Bank (ECB) tried to tackle inflation by increasing the utility rate for the first time in 11 years in a recent meeting.
The initial currency reaction showed the euro to shrink slightly following the release of these data, as well as being impressed by the gains recorded by the US dollar.
The US dollar fell to a six-week low against the yen, simultaneously bringing the ninja currency to the ground for its biggest gain in four months.
The expectation that the Federal Reserve (Fed) will slow the rate of gains has pushed the greenback lower against major currencies.
However, the currency king is again showing gains in the European session with the dollar index trading at around 106.00.
Nevertheless, the market remains cautious about the possibility of profit-taking activity by investors heading into the weekend trade.
