FXstreet.com (Córdoba) - U.S. markets are still mostly down on Tuesday but far from the lows. The Dow Jones is actually up 0.04% but the S&P500 is falling 0.19%. Dollar is consolidating gains across the board and rises for the first time after three days.
Crude oil is gaining for the second day in a row and continues to recover after falling last week to a one-month low. Gold is recovering and currently trades near the same price it had at the beginning of the day. The metal is at $1,139 but earlier was at $1,128.
The ecPulse.com analysis team affirms: Major pairs are narrow-trading due to technical movements after that the green Benjamin strengthened strongly and considerably within the previous EU session throughout the currencies market as U.S. industrial production rose last month less than economists forecast, which boosted the appeal of the dollar as a refuge.
EUR/USD is hovering around 1.4850 after bottoming at 1.4808 (one-week low). The Euro fell during the European session and in the American recovered a small part of previous losses. GBP/USD holds below 1.6800 and posts moderate losses. Despite falling stocks the Pound is stronger against the Euro and the Swiss Franc.
The Yen is falling against the Dollar. USD/JPY found resistance at 89.15 and trades at 89.27/89.32, 0.30% above today's opening price. The Japanese currency is rising sharply against the Euro and the Swiss Franc.