FXstreet.com (Barcelona) - U.S. stock markets have opened with losses on Monday on concerns about the banking system, with financial shares among the largest losers. Euro and Pound have reversed previous gains and trade below their respective opening prices.
Dow Jones Industrial Index loses 0.87% minutes after the opening bell, while the Nasdaq Index drops 1.58% and the S&P Index drops 1.27%.
On the macroeconomic domain, Canadian Building permits have dropped 15.9% in February, well below the 3.6% decline expected by the market
Euro and Pound reverse gains; Yen stronger
After having advanced at a strong pace during the Asian trading session and part of the European session, Euro and Pound have reversed gains to trade below the opening prices on early U.S session.
EUR/USD rally has been capped at 1.3585 on early European session, and the Euro has dropped all the way through 1.3470 and advances around 1.3440 right after the U.S. opening bell.
GBP/USD has lived through a similar experience, Asian session rally has found resistance at 1.4950 and rejection from that level has brought the Pound below 1.4840 level on Early U.S. session.
USD/JPY has reached 101.50 intra-day high, and has turned down to levels below 100.65, on its way towards 100.35 support level.