FXstreet.com (Barcelona) - U.S. markets are practically flat on early trading Monday, with investor's focusing on the opening of four quarter's earnings season. In Forex Markets, the Dollar remains weaker against most currencies, as dovish Fed has triggered risk appetite, which normally favours Euro and Pound.
Dow Jones Industrials and the S&P Indexes are both moving at opening levels, while the Nasdaq Index edges up 0.1% in the half hour after the opening bell.
In absence of key macroeconomic data, investor's focus is set on the release of four quarter's earnings, expecting to see companies releasing increases on revenue, and not only cost-cutting plans. Operating earnings from companies in the S&P index are expected to have tripled on year on year terms.
Dollar decline losing strength
EUR/USD rally from pre-NFP levels around 1.4260has extended during European session to a fresh 4-week high at 1.4535 before easing to levels around 1.4500 at the moment of writing.
GBP/USD rally from 1.5895 on January 7 has extended during European session above 1.6110, where the 200-day SMA lies, and the pair has reached a fresh 2-week high at 1.6195, to ease on early U.S. session to levels right above 1.6110.
USD/JPY rally from Jan 5 low at 91.20 has been capped at 93.75 high on Friday, and following reversal has extended during Asian session to 92.15 low on Asian session, and the pair has remained consolidation during European session at levels between the mentioned low and 92.65 on the upside.