FXstreet.com (Barcelona) - U.S. markets have opened the first session of the week with moderate gains on improved optimism after Friday's U.S. new home sales and Bernanke's forecasts of a nearing economic recovery. Dollar steady at low levels in absence of macroeconomic events.
Dow Jones Industrials Index rises 0.41%, while the Nasdaq Index trades 0.39% up, and the S&P Index advances 0.48% in the first minutes of trading.
Markets rose on Friday after Bernanke expressed his conviction of an approaching economic recovery in the U.S, and markets in Asia and Europe have followed the positive trail on Monday, although the federal Reserve's meeting at Jackson's Hole concluded with comments suggesting caution over the economic recovery.
Dollar, steady at Low levels
EUR/USD declined from 1,4350 during Asian session to test 1.4275 support during the European trading session and the Euro is climbing higher on U.S. session, approaching 1.4350 again
GBP/USD dropped from 1.6545 Asian session high to 1.6440 and bounced back to levels above 1.6500, although the Pound has been rejected at 1.6525 and trades now at 1.6485. On the longer perspective, the Pound continues trading in a range from 1.6415 to 1.6600 during the last four days
USD/JPY rose from 94.35 to reach a session high at 95.05, and the pair fell afterwards to test 94.50 before bouncing to 94.70.