U.S. markets open with declines on U.S./China trade affair; Dollar trims gains

By @ibtimes on

FXstreet.com (Barcelona) - U.S. markets are going through losses at opening times with energies and financial on the weaker side. The Dollar trims gains, as the Euro and Pound stretch higher on early U.S. session.

Dow Jones Industrials Index trades 0.60% down, while the Nasdaq Index slides 0.45% and the S&P Index sheds 0.40% in the first minutes of trading.

Investors are acting with caution on the back of the deterioration of trade relation between U.S. and China. U.S. put strong taxes on Chinese tires over the weekend, while China threatens with an anti-dumping investigation into U.S. sales of chicken and auto products.

Dollar trims gains against Euro and Pound

EUR/USD rebound at 1.4515 low on Asian trading session has broken through 1.4600/10 resistance area on early U.S. session, and the pair reached 1.4622 day high with 1.4635, 2009 high at hand.

GBP/USD is also re-gaining lost ground and rebound on 1.6520 day low has extended on early U.S. session to levels right above 1.6600, with next resistance level at 1.6610.

USD/JPY rebound from 90.20 has reached an intra-day high at 91.12, and the Dollar has turned down on U.S. msession opening and eased to levels around 90.75 at the time of writing.

.

Join the Discussion