AFX: U.S. markets open on weak note; Dollar picks up
FXstreet.com (Badalona) - U.S. markets have opened on Friday with moderate losses, as investor's assess recent signs of economic recovery. Dollar and Yen have been favoured from increasing uncertainty.
Dow Jones Industrials Index drops 0.36% with the Nasdaq Index declining 0.69% and the S&P Index trading 0.45% below its opening level.
On the macroeconomic domain, U.S. Industrial product prices have risen 1.3% in may, below the market expectations of a 1.5% but yet the highest month on month increase since July 2008.
Earlier on, Jean Claude Trchet, ECB President affirmed that Euro Zone's economic outlook is unpredictable, shortly after the area´s industrial output posted a fresh record low in April.
Dollar extends gains
EUR/USD rejection from 1.4130 intra-day high has extended below 1.4000 as the Euro dipped to levels right above yesterday's low 1.3945, giving away all gains posted ever since. At the moment, Euro trades around 1.3965; 0.80% below its day opening level
GBP/USD decline from 1.6600 intra-day high has extended to levels below 1.6400 ahead of the U.S. session opening, and the Pound dipped to test yesterday's low at 1.6340. At the moment the Pound trades at 1.6370, 1.20% below its day opening level.
USD/JPY rally from yesterday's low at 97.25 has capped at 98.40 resistance level and subsequant pullback has driven the pair towards 98.10/00 support level.