FXstreet.com (Barcelona) - Wall street has opened Wednesday's session with gains following a strong report on industrial production. The Dollar is picking up from year lows
Dow Jones Industrials Index rises 0.22% while the Nasdaq Index ads 0.30% and the S&P Industrials Index trades 0.3% above its opening level.
On the macroeconomic front, U.S Industrial production has risen for second consecutive time in August, 0.8% up on the month, beating market expectations of a 0.6% increase while capacity utilization rose to 69.6% from upwardly revised 69.0 in July. Furthermore Consumer prices have increased 0.4% in August, as expected, driven, mainly by energy prices, while the Core CPI has edged up a mere 0.1%.
Dollar attempts recovery from multi month lows
EUR/USD had risen to 1.4700 area on the back of TIC data and turned down after U.S. industrial production data dropping to test support level at 1.4640/50 support.
GBP/USD remains trading in a range from 16430 and 1.6530 after yts decline from levels above 1.6600 on Tuesday. At the moment, the Pound trades around 1.6460 after having been rejected at 1.6530 resistance area.
USD/JPY has declined to a fresh 7-month low during European session, and the Dollar is picking up on U.S. session. At the moment USD/JPY trades at 90.60 after having treached 90.70 on the back of industrial production data.