FXstreet.com (Barcelona) - Wall Street has opened the session sharply higher as the financial sector rose pushed by Wells Fargo gains. Major currencies remain moving in narrow levels in a context of relatively low volatility ahead of Easter holidays.
Dow Jones rises 1.91% while the Nasdaq Index adds 1.91% and S&P Index gains 2.29% minutes after the opening bell. Financials have bounced lead by Wells Fargo, soaring about 30% on bullish expectations over Q1 earnings.
On the macroeconomic front, U.S Trade deficit has narrowed unexpectedly to nine years low in February, totaling $25.97 billion, down from $36.2 billion in January, a well lower deficit than the $36.7 billion foretasted by the analysts.
Currencies little moved
USD/JPY has attempted a squeeze higher after U.S. trade deficit was released hitting a fresh intra-day low at 100.45. although sellers have sent the pair below 100.35 shortly afterwards.
EUR/USD remains moving from a support level at 1.3235 to 1.3300 resistance level; while the GBP/USD moves doubtfully at the 1.4720 level after having risen from 1.4635 low.