FXstreet.com (Barcelona) - U.S. Markets have opened mixed on Monday, as U.S. Industrial Production figures have dampened optimism seen in Asian and European Markets. Euro and Pound have turned down after two-week highs.
Wall Street has not followed the firm pace seen in Europe and Asia, and while the Dow Jones Index advances 0.92% and the S&P gains 1.12%, the Nasdaq Technological Index falls 0.41%, after a positive start.
On the macroeconomic front, U.S. Industrial Production has posted a larger then expected decline in February weighed by weak automobile output, and collapsing exports, which has returned the picture of the country going through a deep economic slowdown.
Euro and Pound turn down
Euro rally from 1.2835 low in Asian session has reached its top at 1.3070 resistance level and rejection from here has brought the pair back to 1.2992 (Feb 23 high). At the moment the pair seems to have found support and trades slightly upwards, some pips above 1.3000.
The Pound was rejected at 1.4230 resistance level (Mar 5 high) and dropped all the way to 1.4050, to return afterwards some pips above 1.4000.
USD/JPY has launched an assault to 98.50 resistance level, but, unable to break above here, the pair has dropped to levels right above 98.00.