FXstreet.com (Barcelona) - U.S. markets have opened the week on a slight sell tone with investor's optimism weighed by mixed sales on Black Friday and Dubai World's debt crisis; In FX markets, Dollar continues picking up against Dollar and Pound.
Dow Jones Industrials Index edges down 0.15% while the Nasdaq index sheds o.1% and the S&P Index trades practically at opening levels in the first hour of trading.
On the macroeconomic front, U.S. Chicago PMI has improved to a reading of 56.1 in November from 54.2 in October, with new orders growing at a fastest pace and employment levels declining although at a slower pace.
Furthermore, Canadian economy came out of recession in the Q3 after three consecutive quarters of contraction. GDP rose at a 0.4% yearly pace in the quarter, following a 3.1% decline in the second quarter, upwardly revised from the 3.4% decline previously estimated.
Euro and Pound Pulling down
EUR/USD decline from intra-day high at 1.5085 has extended below 1.5020 support with the pair hitting levels right below 1.5000 before bouncing back to levels around 1.5010 at the moment of writing.
GBP/USD recovery from 1.6270 low on Friday extended to 1.6595 high on Monday's Asian session, and the pair dropped during European trade, breaking below 1.6470 support to hit a fresh intra-day low at 1.6435 so far.
USD/JPY was rejected at 87.20 on early Asian session, and the pair declined to 85.85 session low before bouncing up and reach levels at 86.75 at the moment of writing.