Published: Mon, 09 Nov 2009 16:23:00 +0100

U.S. markets open on strong note; Dollar weaker against Euro and Pound

FXstreet.com (Barcelona) - U.S. markets have opened the week on a bid tone, with energies and materials leading gains with commodity prices at higher levels and dollar hitting new lows on the back of a fresh wave of risk appetite. Euro and Pound have advanced to levels approaching year to date highs.

Dow Jones Index adds 1.0%, while the S&P Index rises 1.2%, and the Nasdaq index trades 1.45% higher in the first hour of trading.

General Electric has been the biggest gainer with a 3.2% advance after settling an agreement to value NBC universal, beating, therefore, a major obstacle for Comcast to control GE's television and movie company, according to the Wall Street Journal. Other gainers have been Carterpillar and Alcoa, whose shares have advanced more than 2%.

Dollar weakened further

EUR/USD rally from 1.4625 low on Nov 03 has extended to a fresh 2-week high at 1.5020, to consolidate afterwards in a range from 1.4980 to 1.5020.

GBP/USD rally from 1.6260 in November 3 has rallied mire than 200 pips further, to hit levels above 1.6800 for the first time in the last three months, although rejected by 1.6845, the pair has pulled down below 1.6800. At the moment f writing, the Pound moves at 1.6765.

USD/JPY has traveled up and down today; from Asian session low at 89.70, the pair rose past 90.00 during European session, to reach 90.25 high to pullback again to levels right above 89.70 session low at the momet of writing.

By Fxstreet.com

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