FXstreet.com (Barcelona) - U.S. markets have opened Friday's session on a moderate bid tone after investors digest wider than expected trade deficit figures. The Dollar trimmed losses against Euro and Pound and weakened against Yen.
Dow Jones Industrial Average advanced 0.2% while Nasdaq and S&P Index are both 0.1% up, in the first hour of trading.
In the macroeconomic side, U.S. deficit in goods and services trade with the rest of the world has widened to $36.5 Billion in September from $30.8 Billion in Agust, well beyond the market consensus of $32.0 Billion. Furthermore, U.Michigan/Reuters Consumer Confidence Index has dropped to 66.1 in November, from 70.6 in October.
Dollar and Yen trimming losses
EUR/USD rally from 1.4820 has been capped at 1.4900, and the Euro has dropped lower, reaching intra-day low levels at 1.4825, right above 1.48200 low on Thursday.
GBP/USD recovery from 1.6515 low on Thursday has been capped at 1.6700, and the pair has eased on early U.S. session to 1.6625 (Nov 12 high). At the moment, the Pound trades around 1.6650.
Dollar decline from intra-day high at 90.40 has extended below 89.70 support as U.S. Trade deficit widened above expectations, and the pair hit 89.45 session low although it managed to bounce to levels right above yesterday's low at 89.65.