FXstreet.com (Barcelona) - U.S. markets have opened Tuesday's session on a slight sell tone following declines in European and Asian markets ahead of the two-day monetary policy meeting by the Federal Reserve. The Dollar picks up against its major rivals.
Dow Jones Industrials Index declines 0.4% while the Nasdaq Index sheds 0.5% and the S&P Index edges 0.1% down in the first hour after the opening bell.
Financials are leading losses as Swiss UBS Bank announced a $500 million net loss in the third quarter and warned about withdrawals from wealthy customers persisting over the coming months. UBS shares dropped more than 6%.
On the macroeconomic domain, U.S. Factory orders have increased 0.9% in September, following an unrevised 0.8 decline in August, the fifth increase in the last six months. Non-defense capital goods orders excluding aircraft, a key gauge for capital spending have increased 1.8%.
Dollar picks up on weaker equities
EUR/USD has slumped during European trading from 1.4810 Asian session high to one-month low at 1.4625, and is trying to pick up during U.S. session although the pair remains capped around 1.4660 so far.
GBP/USD dropped from 1.6420 Asian session high, reaching levels below 1.6300 during European trade to bottom at 1.6260 before attempting recovery, returning above 1.6300 and struggling with 1.6325/35 previous lows at the moment.
USD/JPY remains trading in a range from 89.85 to 90.70, and decline from 90.50 high on Asian session has reached 89.85 low before bouncing to 90.50 resistance which is being tested at the moment.