FXstreet.com (Barcelona) - U.S Stock markets have turned down after a strong opening, Euro and Pound have stopped their decline and attempt to pick up from low levels, USD/JPY continues approaching 100,00.
Wall street has turned down to slight losses after having started ion a strong note, after Warren Buffet warned that economy has fallen off a three. The Dow Jones Index is 0.17% down 1 hour after the opening, while the Nasdaq Index drops 0.15% and the S&P is going through gains by 0.23%.
On the macroeconomic domain, only Canada released a well weaker than expected Housing Starts, the Dollar extended its rally and reached a fresh 4-year high at 1.3063
Euro and Pound attempt recovery
The Euro has picked up from intra -day low at 1.2555, to break resistance level t 1.2600 and continue up towards next resistance level at 1.2660 (Mar 4 high).
GBP/USD Seems to have bottomed at 1.3742, on its decline from intra-day high at 1.4180, as selling pressure increased on the back of declines on UK banks' stocks; at the moment, the Pound is trying to regain 1.3800 resistance level, without success so far.
The USD/JPY has been fuelled by a fresh wave of risk aversion and has , recovering almost all the ground lost on Friday, and continued up towards resistance level at 98.90, but ii has not been able to hold, and the pair remaind few pips below.
The USD/CAD made a fast entry to 4-year high at 1.30 46, but it could not hld and dropped back, at the moment the Dollar is trying to climb above 1.3015 (Feb 27 high).