FXstreet.com (Barcelona) - U.S. markets are going through early gains on Monday driven by health care as merger activity has triggered risk appetite. In FX markets, the Dollar remains steady at high levels against its major rivals.
Dow Jones Industrials Index advances 0.85%, while the Nasdaq Index trades 1.07% up, and the S&P Index rises 1.1% in the first hour of trading.
In the Dow Index, Alcoa shares advanced 6.2% and Intel shares rose 1.8% after investment ratings upgrades by Morgan Stanley and Barclays Capital. Furthermore, firms in the health care sector have advanced fuelled by renewed merge activity in the sector.
Dollar remains steady against Euro and Pound
GBP/USD recovery attempt from 1.6050 low on Friday has been capped at 1.6165/70 resistance area which has not given way after two attacks, and the Pound has reversed, dropping below 1.6100 to reach session low at 1.6075 at the moment of writing.
EUR/USD remains trapped within a range from 1.4280 to 1.4375; the pair has bounced at 1.4280 on early European session reaching 1.4375 session high at U.S. session opening, to pull down to 1.4315 at the moment of writing.
USD/JPY has broken above intra-day high at 90.65 on easy U.S. session, and the pair reached Friday's high at 90.90, which is under attack at the moment, with the Dollar aiming to extend recoveryfrom Dec 9 low at 87.35.