FX : U.S. markets open with gains after personal spending's advance; Dollar, near session lows
FXstreet.com (Barcelona) - U.S. markets have opened Wednesdays session with gains on the back of the third consecutive increase on U.S. personal spending. In FX markets, risk appetite has taken Euro and Pound to session highs.
Dow Jones Industrials Index advances 0.35%, while the Nasdaq Index rises 1.5%, and the S&P Index trades 0.44% above its opening level in the first minutes of trading.
On the macroeconomic area, U.S. Consumer spending increased 0.2% in July for its third consecutive time, on the back of a 1.3% increase on durable goods, namely automobiles, on the effect of the government's "cash for clunckers" incentive. Personal income remained unchanged, following a 1.1% decline in June.
Dollar, at session lows against Euro and Pound
EUR/USD bounced up after a slight dip post U.S. personal income, to break above 1.4375, after several attempts, reaching a new day-high at 1.4388. Anthe moment, the Euro trades at 1.4380.
GBP/USD bounce at yesterday's low at 1.6150 has extended to a session high at 1.6380 moments ahead of the Wall street session opening, which means taking back half of the ground lost during the week. At the moment, the Pound trades around .6380.
USD/JPY recovery from 93.20 low yesterday has been halted at 94.04, and the Dollar has turned down, reaching levels around 93.65 on early U.S. session.
