FXstreet.com (Barcelona) - Wall Street has opened with losses on concerns about General Motors' future, and gloomy unemployment data. The Dollar has picked up against Euro and Pound.
Dow Jones Index edges down 0.70% while the Nasdaq Index slides 1.22% half an hour after the opening bell. Risk aversion on concerns about General Motors' future has increased with gloomy ADP data forecasting a 742K decline in non farm payrolls; well above the -660K expected.
On the other hand, pending Home sales, increasing against expectations in March have supported a sight recovery for U.S. Markets.
Euro and PoundÂ´s recoveries capped
EUR/USD recovery from 1.3170 low reached on Early European session has halted at a maximum level of 1.3285, and the Euro has fallen back to levels below 1.3265, after the negative opening of U.S. stock markets.
The Pound's rally from 1.4275 has been capped at 1.4435, to turn down to levels below 1.4375 on its way towards 1.4305 support level.
USD/JPY has returned to levels below 99.00 after worse than expected U.S ADP data, reaching levels right above 98.35 level to rise afterwartds, at the moment the Dollar is about to test 98.85/99.00 resistance level again.