EURUSD rebounded during Asian trading on Friday, recovering earlier losses and hovering near the 1.1200 mark as the US Dollar weakened on the back of soft economic data. US Producer Price Index (PPI) inflation for April slowed to 0.1% month-on-month, easing concerns about inflationary pressures and strengthening expectations of Federal Reserve rate cuts. Meanwhile, Eurozone Q1 GDP edged down slightly to 0.3% quarter-on-quarter, though the annual rate held at 1.2%, leaving traders cautious. Attention now shifts to the upcoming University of Michigan Consumer Sentiment Index, with forecasts suggesting a slight uptick to 53.4 from April’s two-year low of 52.2. A stronger reading could support the USD, while continued weakness may further buoy EURUSD in the near term.

The FTSE 100 to open up 10.7 points, 0.1%, at 8,644.45 on Friday. The index of London large-caps closed up 48.74 points, 0.6%, at 8,633.75 on Thursday. DAX futures are up 0.68%. CAC40 is edged slightly higher at 0.45%. FTSE MIB is expected to open higher as well.