The euro is trading at $1.2926, up from $1.2901 in late North American trading Thursday.

An unexpected 1.1% rise in second-quarter British GDP, above the forecast 0.6%, boosted the U.K. pound over the dollar in early trading.

The pound surged versus the dollar to $1.5433, up from $1.5278.

Though up substantially in yesterday’s trading, the Canadian dollar fell versus its U.S. counterpart in early trading as a government report showed the annual inflation rate slowed in June, reducing pressure on the Bank of Canada to raise interest rates later this year.

The loonie is trading at $0.9630.

- The Dow Jones industrial average gained 201.77 points (1.99 percent).
- The Standard & Poor's 500 added 24.08 points (2.25 percent).
- The Nasdaq Composite rose 58.56 points (2.68 percent).

European shares surged to a one-week closing high on strong earnings results and some solid macro-economic numbers.

- London’s FTSE 100 closed up 99.17 points.
- Frankfurt’s DAX index ended up 151.77 points (2.53 percent).
- Paris’ CAC-40 index advanced 106.65 (3.05 percent).

In early European trade, the euro advanced 0.80% to reach $1.2855.

The British pound rose against the dollar on news that the U.K. Office for National Statistics indicated that retail sales had risen more than expected in June.

The pound gained 0.78% to hit $1.5284.

The Canadian dollar edged higher versus the U.S. dollar as the latter plunged after Federal Reserve chairman Ben Bernanke painted a gloomy outlook for the U.S. economy

The loonie is currently trading at $0.9596.

- The Dow Jones industrial average closed down 109.43 points (1.07 percent).
- The Standard & Poor's 500 index ended down 13.89 points (1.28 percent),
- The Nasdaq composite index fell 35.16 points (1.58 percent).

The main reason behind European stock market's advance was Apple's strong results after the close on Tuesday. Coca-Cola results also came in above forecasts. The markets closed higher, but trimmed a large percentage of their earlier gains late in the session.

- London’s FTSE 100 index closed up 75.18 points (1.46 percent).
- Frankfurt’s DAX 30 closed up 22.89 points (0.38 percent).
- Paris’ CAC 40 closed up 25.90 points (0.75 percent).

In early trading, the euro unit slid to $1.2867, down from $1.2881 in New York late on Tuesday, when it had hit a ten-week peak of $1.3029.

The U.K. pound gained versus the dollar, despite a negative British mortgage approvals report, which came out at 48k, less than the expected 52k.

The pound is trading at $1.5263.

Canadian wholesale sales data for May is slated for release later today. Ahead of the release the data, the Canadian dollar moved sideways against the U.S. dollar

The loonie is currently at $0.9648.

- The Dow Jones industrial average rose 75.53 points (0.74 percent).
- The Standard & Poor's 500 Index advanced 12.23 points (1.14 percent).
- The Nasdaq Composite Index climbed 24.26 points (1.10 percent).

European stocks broke a week-long losing streak as mining stocks climbed along with metal prices. Spanish stocks also rallied, helped by Spain's successful Treasury bill auction that eased worries over the country's ability to tap the debt market.

The euro was slightly lower, retreating from $1.3029 as some investors questioned whether the single currency would sustain gains above $1.30, given that European bank stress test results due on Friday may reveal weakness in euro-zone financial institutions.

In New York trading, the euro was down 0.39 percent at $1.2889 from a previous session close of $1.2940.

- The Dow Jones Industrial Average index gained 56.53 points (0.56 percent).
- The Standard & Poor’s 500 Index gained 6.37 points (0.60 percent).
- The Nasdaq Composite Index gained 19.18 points (0.88 percent).

European stock indices closed lower after disappointing U.S. housing data provoked another bout of jitters about the world's largest economy.

- London’s FTSE 100 index ended down 10.57 points (0.2 percent).
- Frankfurt’s DAX fell 31.16 points (0.5 percent).
- Paris’ CAC-40 closed down 13.83 points (0.4 percent).

The euro is trading at $1.2960, up slightly from $1.2942 in North American trade late Friday.

The U.K. pound dropped against the dollar on news from Britain’s largest property website that its house price index fell 0.6% in July, dropping for the first time this year.

The pound is at $1.5281, down slightly from $1.5302 late Friday.

The Canadian dollar gained slightly on its U.S. counterpart on the expectation that the Bank of Canada will raise interest rates by 25 basis points on Tuesday.

The loonie is trading at $0.9490.

- The Dow Jones industrial average lost 261.4 points (2.5 percent).
- The Nasdaq composite index was down 70.03 points (3.1 percent).
- The S&P 500 index fell 31.6 points (2.9 percent).

European shares fell, after downbeat U.S. economic data and disappointing results at Citigroup, Bank of America and General Electric heightened concerns over the pace of economic recovery.

- London’s FTSE 100 closed down 52.44 points (1.01 percent).
- Frankfurt’s DAX index ended down 109.09 points (1.77 percent).
- Paris’ CAC-40 index closed down 81.66 points (2.28 percent).

The U.K. pound slipped slightly against the dollar amid concerns that the global economic recovery is losing momentum, following disappointing economic reports in China and the U.S.

The pound was at $1.5335 from $1.5412.

Canada's dollar fell against its U.S. counterpart, as growing concerns about the strength of the U.S. economic recovery and the pace of growth in China dampened demand for commodity-based currencies.

The loonie is trading at $0.9487.

- The Dow Jones industrial average slipped 7.41 points (0.07 percent).
- The Standard & Poor's 500 Index inched up 1.31 points (0.12 percent).
- The Nasdaq Composite Index edged down 0.76 of a point (0.03 percent).

European stock indices slipped upon downbeat inflation and manufacturing data from the U.S. pointed to sluggish growth, overshadowing optimism for corporate results after strong earnings from JPMorgan.

- London’s FTSE 100 closed down 42.23 points (0.80 percent).
- Frankfurt’s DAX index ended down 60.4 points (0.97 percent).
- Paris’ CAC-40 index closed 51.16 points (1.41 percent).

The euro strengthened 0.4 percent to $1.2790 in morning London trading.

The U.K. pound gained ground on the dollar, on news that the U.S. Federal Reserve cut its growth forecasts for 2010 from 3.45% to 3.25% and revealed it is ready to consider additional steps, such as printing money, to boost the economy if it took a turn for the worse.

The pound rose 0.74 cent to $1.5345, its highest level since early May.

The Canadian dollar strengthened against its U.S. counterpart in the wake of a U.S. central bank assessment that the economic outlook for the had "softened".

The loonie is at $0.9710.