FXstreet.com (Barcelona) - U.S. markets have opened with advances ahead of the start of corporate earnings season and with gold rallying to new highs. In FX markets, the Dollar has weakened across the board.
Dow Jones Index trades 0.75% higher, while the Nasdaq Index adds 0.75% and the S&P Index trades 0.84% above its opening level in the first hour of trading.
Materials' sector is leading gains on Tuesday in absence of key macroeconomic data, with commodity prices higher on Dollar weakness, and Gold futures reaching $1.034. Financial an industrial sector's shares have also climbed, as investor's expects companies to show improvements on their third quarter's earning s reports.
Dollar and Pound plunge across the Board
EUR/USD rally from 1.4480 low on Friday has extended during Asian and European sessions to 1.4750 high and the pair has remained consolidating ever since, in a range from 1.4700 to 1.4750.
GBP/USD rose on early European session to 1.6050 high, fuelled buy positive housing prices index, although gloomy Industrial production figures brought about a 175 pips sell-off to 1.5875. at the moment the Pound is going through a slight recovery, reaching levels around 1.5930 at the moment of writing.
USD/JPY has extended its retreat from 90.00 high on Monday breaking below session low at 88.80 to test October 2 low at 88.60 which remains intact so far.