FXstreet.com (Barcelona) - U.S. markets have opened Thursday's session with declines weighed by weak materials after positive figures on U.S. personal income and spending. The Dollar remains rangebound against Euro and Yen and higher against Euro.
Dow Jones Index declines 0.69%, while the Nasdaq Index drops 0.7%, and the S&P Index trades 0.6% below its opening level, in the first hour of trading.
On the macroeconomic front, U.S. Personal Spending rose 1.3% in August, above the 1.1% increase expected by market analysts, and the largest advance since May 2008. Personal Income rose a more modest o.2%, while the Core Personal Consumption expenditures prices Index rose 1.3% following a 1.4% advance in July, suggesting that Inflation remains at moderate levels.
Furthermore, U.S. Manufacturing Activity has expanded in September, although at a lesser extent than in August, as Manufacturing ISM edged down to 52.6 from 52.9 in August; well below the 54.0 reading expected by the analysts.
Dollar and Yen, slightly stronger
EUR/USD remains trading at levels around 1.4550 after bouncing from two-week low at 1.4515. Earlier today, the Euro declined from 1.4670 during European session, weighed by rumors of Eurozone officials discussing Euro strength ahead of G7 meeting.
GBP/USD remains trading in a range from 1.5925 to 1.6000 during the last three days, trading above the 100 SMA. At the moment, the Pound struggles to leap above 1.6000 level.
USD/JPY decline from 90.15 high on early European session has broken intra-day low to trade at 89.40 right above Wednesday's low at 89,35 On a longer perspective, the pair moves in a range from 89.35 to 90.20/40 after bouncing from 88.20 low on September 28.