U.S. markets slighly down at the opening; Dollar continues weakening

Saturday, May 23, 2009

U.S markets have turned negative after a slightly positive opening. Euro and Pound continue advancing at medium-term highs while the Dollar-Yen bounced at two months low

Dow Jones Industrials Index drops 0.20% while the Nasdaq index falls 0.60% and the S&P Index sheds 0.40% in the first half hour of trading.

The financial sector is mixed after the failure of Bank United Financial, the 34th bank failure this year so far, which reminds the delicate situation of the baking sector, despite the satisfying performance of the largest banks on the recent "stress test".

Euro Pound and Yen at mid-term highs

The Euro has strengthened further ahead of the U.S session opening and the pair has reahed levels above 1.4000 for the first time since early January, hitting 1.4030 so far.

GBP/USD has advanced to levels above 1.5900 ahead of the U.S. session opening to hit a fresh 6-month high at 1.5945, ti ease to levels right above 1.5900 later on. At the moment, the Pound moves around 1.5880.

USD/JPY is testing resistance level at 94.25 after having bounced at 2-moths low 93.85 ahead of the U.S session opening.

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