FXstreet.com (Barcelona) - US stock markets are rising today's session on the back of better than expected consumer confidence and housing price index data. Ben Bernanke will lead US to the economic recovery and market is believing that recession is ending. Euro and Pound is under pressure and Dollar is recovering some ground of its initial loses.
Dow Jones is rising 0.80% to consolidate its index above 9.500 pts, S&P 500 advances 0.70% and Nasdaq posts 0.64% daily gains from opening index.
S&P/Case-Shiller Home Price index has decline 15.4% in Q2, less than 16.3% expected by market and better than 17.0% drop in the previous quarter. Housing price index increased 0.5% its value in June, less than 0.6% increase posted in May, but better than 0.4% gain expected by market.
The big today's surprise was consumer confidence, which has jumped to 54.1 pts in Aug from 47.4 in July, well above 48.0 pts expected by market.
On the other hand, US president Barack Obama has nominated to Ben Bernanke for Fed Chairman to second term. Obama wants Bernanke to lead US in its economic recovery.
EUR/USD has capped its rally at 1.4360 and pair has fallen to test 1.4310, currently pair is trading close to 1.4330. GBP/USD has been rejected by the 1.6440 level and Pound is trading back to low levels close to 1.6350.
Dollar is falling against Yen, after reaching intra-day high at 94.60, USD/JPY fell to test 94.00 and USD/CHF was unable to consolidate positions above 1.600 level.