FXstreet.com (Barcelona) - US stock markets are posting losses today's Friday session after a positive week. Wall Street are risen 8,0% since Monday, but today's losses could reduce weekly gains.
Dow Jones are falling 1.20% today's session, Nasdaq 100 are posting 1.24% decreases and S&P 500 has fallen 1.12% in the American session.
According to Kathy Lien, Director of Currency Research at GFT, investors need some good news to make risk appetite come back: With the rally in the stock market and recent economic data invigorating hope for a U.S. recovery, traders needed a good reason to continue selling dollars. The big story this past week was the possibility of the dollar being replaced by the a global reserve currency but reports that this topic will not be discussed at the upcoming G20 summit has provided some relief. A confluence of factors have driven the U.S. dollar higher today. U.S. economic data was mixed which means that it did not contribute the rally. According to the latest reports, personal spending has slowed, personal income dropped to the lowest level in nearly a year while inflation ticked modestly higher.
USD/JPY is trading below 1.3300 after be traded in the 1.3270/1.3315 small channel along the American session. As well as USD/CHF, which has been trading between the 1.1430/1.1465 small channel last hours. GBP/USD is trading above the 1.4310 from 1.4350 and USD/JPY is consolidating its 98.00 level after it is trading around 98.00/98.30 band last hours.