FXstreet.com (Barcelona) - Wall Street has opened the week on a positive tone, with energies leading gains on the back of a larger then expected increase on U.S. retail sales. The Dollar has weakened against its major rivals.
Dow Jones Industrials Index advances 0.78%, while the Nasdaq Index S&P Index adds 1.1% and the S&P Index advances 1.2% in the first two hours of trading.
In the macroeconomic domain, U.S. retail sales volume has increased 1.4% in October, well above the 0.9% increase expected, and following a 2.3% downwardly revised decline in September. Most of the advance, however, has been due to automobile sales, except autos, sales of all other products edged up 0.2%.
Dollar remains sideways at low levels
GBP/USD corrective pullback from 1.6750 has found support at 1.6670 and the pair bounced up reaching intra-day high at 1.6750, which is being tested at the moment on an attempt to extend recovery from 1.6515 low in November 15.
EUR/USD recovery from 1.4823 low on Friday has been capped at 1.4995 on early European session, and the Euro pulled back to 1.4940 to return to 1.4945 at the moment of writing.
USD/JPY remains trading in a range from 89.35 and 89.79, consolidating below the 90.00 level after its decline from Nov 12 high at 90.60