FXstreet.com (Barcelona) - After a weak opening, US stock markets have eased its initial loses to post advances during today's Wednesday session on the back of better than expected US data as more signs of recession is finishing. Dollar is soaring against the rest of the majors.
Down Jones is posting 0.10% to post its index close to 9,550 pts, S&P 500 advances 0.07% and the Nasdaq index rises 0.15% with its index trading close to 1,030.
On the macroeconomic front, Orders for expensive goods produced in the U.S. have risen 4.9% in July, beating market expectations of a 3.0% increase, on the back of demand for planes and capital goods.
Home Sales report has revived US stocks, New home sales has climbed 9.6% in July, well above 1.6% advances expected bu market. The annual rate in sales was 433,000 units in July, more than 395,000 posted in June.
EUR/USD is trading close to 1.4200 after falling around 150 pips since the beginning of the European session, GBP/USD has posted 1.6160 as 6-week low, currently it is trading around 1.6200 level.
USD/JPY has risen to test 94.50 level, intra-day high, and currently is consolidating levels above 94.40 support, MA200 level. USD/CHF has tested 1.0700 level, posting 1-week high at 1.0705.