FXstreet.com (Córdoba) - U.S. markets open with important gains on Wednesday after a better than expected data on retail sales and results from JP Morgan. The Dow Jones is rising 0.85% and is 45 points away from 10,000. Nasdaq is up 1.06%. Dollar and Yen gain momentum after the opening bell and recovered across the board.
EUR/USD fell below 1.4900 to 1.4890. The pair is still holding important gains but the rally of the euro eased. GBP/USD rebounded at 1.6015 and tumbled below 1.5935. Cable is getting closer to intra-day low that lies at 1.5900 and has lost previous gains.
USD/JPY plunged from 89.90 to 89.00 after the opening bell. But the Dollar recovered and now trades above 89.30, still down for the day but it moved away from the lows. The Yen jumped against European currencies after the opening.
The ecPulse.com analysis team affirms: The green currency plunged today on signs of global recovery, which dampened demand on the dollar as a refuge. JPMorgan Chase & Co. announced its earnings today, which came better than analyst's forecasts. In addition, U.S. retail sales for September released today showed improvement. The ongoing improvement put downside pressure on the dollar, dragging it to 14-month low. The dollar index is currently at 75.50, down from the opening at 75.80.