FXstreet.com (Barcelona) - U.S. stock markets are going throug gains on Thursday on buoyed investor's optimism after a larger than expected advance in U.S. third quarter's GDP. Euro and Pound rally, while Yen and Dollar tumble on risk appetite.
Dow Jones Index adds 0.9%, while the Nasdaq Index adds 1.5% and the S&P Index rises 1.3% two hours after the opening bell.
On the macroeconomic front, U.S. GDP has increased at a 3.5% in the third quarter, slightly above the 3.2% increase expected by the analyst, favoured by a sharp increment on consumer spending, 3.5% up in the third quarter, following a 0.9% decline in the second quarter.
Dollar and Yen tumble
USD/JPY decline from 92.30 has set a bottom at 90.25 on Asian session, and the Dollar has rallied ever since to return above 91.00 on post-GDP boost, and hit 91.45 session high before easing to levels around 91.30 at the moment of writing
GBP/USD has rallied about 270 pips during the day; the Pound bounced at 1.6335 on early Asian session to break above 1.6465 Oct 28 high, after GDP figures, and extend rally to 1.6600 level.
EUR/USD retreat from 1.5060 as found support at 1.4680 low, and the Euro has rallied during the day, breaking above 1.4800/10 resistance area to reach levels around 1.4820 at the moment of writing.