U.S. markets open higher despite disappointing GDP; Dollar rally stalls

  on

FXstreet.com (Barcelona) - U.S. markets have opened Tuesday's session with slight advances after disappointing U.S. GDP, which has shown a weaker than expected economic recovery in the third quarter; Dollar rally has stalled after GDP figures.

Dow Jones Industrials Index advances 0.35% while the Nasdaq Index adds 0.45%, and the S&P Index rises 0.40% in the first minutes of trading.

U.S. GDP has been revised down to a 2.2% advance in the third quarter, down from the 2.8% second estimation and the 3.5% advance released on the first estimation. The revision has been sharper than expected, as market analysts had forecasted a 2.7% increase.

Dollar rally takes a breath after GDP figures

EUR/USD, which has dropped to 1.4268 low before the release of GDP figures, right above 1.4260/65 (Dec 18/21 low), has bounced to 1.4315 after GDP ti ease to levels around 1.4290 at the moment of writing.

GBP/USD continues trading lower, despite a mild rebound d from 1.5975, fresh 2-month low, to 1.6025 after GDP figures, the Pound has resumed downtrend and trades, at the moment, at 1,5985, about to break below 1.5975 any time.

USD/JPY rally from 91.15 low on Asian session hasd extended to a fresh 7-week high at 91.65, to ease to 91.30 after GDP figures, although the Dollar is taking back lost ground, and reaches levels around 91.55 at the moment of writing.

.

Join the Discussion