FXstreet.com (Barcelona) - U.S. markets have opened Wednesday's session with mild declines, despite the largest increase on U.S. durable goods orders in the last two years. The Dollar is soaring against Euro and Pound.
Dow Jones Industrials Index drops 0.29%, while the Nasdaq index edges down 0.1%, and the S&P Index declines 0.32% in the first minutes of trading.
On the macroeconomic front, Orders for expensive goods produced in the U.S. have risen 4.9% in July, beating market expectations of a 3.0% increase, on the back of demand for planes and capital goods.
Dollar soars against Euro and Pound
EUR/USD is weakening sharply and reversal from intra-day high at 1.4350 has extended 100 pips lower on a negative Wall Street opening to hit a fresh intra-week low at 1.4225.
GBP/USD failure to break 1.6350 resistance has triggered a sell off of nearly 200 pips, as the Pound plunged to a 6-week low at 1.6160.
USD/JPY remains capped below 94.30 resistance, despite an spike to 94.40 immediately after U.S. durable goods data was released.