FXstreet.com (Barcelona) - U.S. markets have opened Tuesday's session on a slight sell tone, after U.S. GDP showed that U.S. economy is going through a weaker than expected recovery. Dollar and Yen are pulling down after rallying during Asian session.
Dow Jones Index dips 0.4%, while the Nasdaq Index drops 0.65%, and the S&P Index declines 0.50% in the first half hour after the opening bell.
On the macroeconomic front, the U.S. U.S. Gross Domestic Product increased 2.8% from July to September, below the 3.5% increase previously estimated, according to preliminary figures by the U.S. Commerce Department.
Somewhat later, optimism has picked up as U.S. Case-Shiller Home Price Index, has shown a 8.9% decline in the third quarter, a substantial improvement from the 14.7% decline in the second quarter, and the 19% decline in the first three months of the year.
Dollar and Yen trim gains
EUR/USD has picked up from 1.4880 session low to reach 1.4990 resistance level after U.S. housing prices were released, although the pair has failed, once again around 1.5000 and pulled down to levels around 1.4950 at the moment of writing.
GBP/USD found support at 1.6500 low during European session and the Pound has picked up to 1.6595 high on early U.S. session, although the Pound has been rejected and pulled down to 1.6550 on weak equity markets.
USD/JPY has broken below 88.55 support level after weaker tan expected GDP data, to reach a fresh 6-week low at 88.35, so far.