FXstreet.com (Barcelona) - European markets have opened Tuesday's session with moderate increases after positive sessions in Asia and Europe. Euro and Pound have eased after rallying during the European session. The Dow Jones Industrial Index rises 0.45%, while the Nasdaq Index adds 0.62% and the S&P Index trades 0.60% above its opening price. On the macroeconomic front, U.S. Housing Starts declined 1.0%, instead of the 2.7% increase forecasted by the experts; following a revised 6.5% increase in June, while building permits declined 1.8% after by 10.0% and 4.0% in June and May respectively. Furthermore, Producer Prices Index have declined 0.9% in July, instead of the 0.4% decline forecasted by the analysts, most of the decline has been due to lower prices for food and energy, excluding those two elements, prices of all other products edged down 0.1%. Dollar steady after decline in European session EUR/USD rally from 1.4080 low on Monday has reached 1.4155 high on European session, and the pair pulled back below 1.4100 on negative U.S. data, and remains hovering at levels around 1.4085 on early U.S. session. GBP/USD rally from 1.6275 low on Monday has reached an intra-day high at 1.6480 ahead of U.S. housing data, and the Pound has pulled down to 1.6400 to bounce, supported by the positive Wall Street opening, to levels around 1.6450 at the moment of writing. USD/JPY rose from an opening price around 94.30 to reach 95.65 high before turning down and lose most of the gains, dropping below 95.00 to test 94.60 support at the time of writing.

Source