FXstreet.com (Barcelona) - U.S. markets have opened on strong note Monday buoyed by higher oil prices supporting the energy sector, whole Marvell's earnings boosted the Tech sector. The Dollar advances picks up against Euro and Yen and trims gains against Pound.
Dow Jones Index advances 0.9% while the Nasdaq Index adds 1.25%, and the S&P Index trades 1.1% higher one hour after the opening bell.
News about Marvell Tech, which raised its fiscal third-quarter outlook have favoured technologicals, with Microsoft shares 1.3% up leading gains, followed by Intel and IBM. Furthermore oil prices, which rose above $80 a barrel has supported energy companies such as Chevron and Exxon Mobil which post gains beyond 1.0% each
EUR/USD, unable to break above 1.5060 resistance area on early Asian session, the Euro has retreated, to trade around 1.5010 at the moment of writing.
GBP/USD decline from Friday's high at 1.6690 has found support at 1.6210 during Monday's Asian session, and the Sterling has appreciated during the day, to reach session high levels, at 1.6385 at the moment of writing.
USD/JPY has gone back and forth, declining during Asian session from 92.20 high to 91.55 low and back to test 92.20 at the moment of writing.