FXstreet.com (Barcelona) - U.S. markets have opened the week on strong note, with the Financial sector leading gains after Goldman & Sachs upgraded its outlook on the sector, and a better than expected Non Manufacturing ISM. The Dollar, has been moving sideways against Euro and Pound.
Dow Jones Index advances 0.3%, while the Nasdaq Index trades 0.5% up, and the S&P Index adds 0.6% one hour after the opening.
Shares of U.S. banks have gone higher after Goldman & Sachs increased its coverage view on the sector, from neutral to attractive. Wells Fargo shares rose 4.5%, while shares of Capital One Financial advanced 4.6% and Bank of America shares rose 2%.
Furthermore, Non manufacturing PMI rose to 50.9 in September from 48.8 in August, beating experts' expectations of a reading around 50.0. New orders' index rose to 54.2 in September from 49.9 in August, while the Employment index continued contracting, although at a slower pace than in August 44.3 vs 43.5.
Dollar, in range vs Euro and Pound
GBP/USD recovery from 1.5800 low on Friday was capped at 1.6025 on early European sesion, and the pair eased to 1.5905 low ahead of the U.S. session opening. At the moment of writing, The Pound trades at 1.5940
EUR/USD has been going through a similar pattern, as its recovery from Friday's low at 1.4480, the Euro has bounced to 1.4655 high ahead of Frankfort opening, and the pair eased to 14590. At the moment, the Euro trades at 1.4620.
USD/JPY has been unable to extend recovery from 88.60 low on Friday to levels above 90.00, and the pair has dropped on early U.S. session below the 100 hour SMA at 89.77 to 89.55 at the moment of writing.