Forex Blog: Stocks finish in negative in the U.S.; Dollar mix

Tuesday, January 12, 2010

Stocks finish in negative in the U.S.; Dollar mix

FXstreet.com (Córdoba) – Markets in the U.S. finished lower on Tuesday. The Dow Jones fell 0.34% and the Nasdaq lost 1.30%. The stock indexes finished far from the lows. Commodities also fell. Greenback is mix across the board.

Regarding today’s session the ecPulse.com analysis team comments: ”U.S stocks declined by the end of today’s trading session as the worst than expected fundamentals released from the U.S. economy, whereas the trade deficit widened to $36.4 billion in the month of November, while China on the other hand increased the required reserves for banks in a step that was seen to hurt economic growth. However, we witnessed a drop in financial stocks, along with the drop that we witnessed in the S&P 500 for the first time in 2010 due to pessimism that dominated markets after Alcoa Inc results failed to meet expectations.”

EUR/USD is holding below 1.4500 and the Euro found support at 1.4485. The pair trades near the same level it had before the opening bell at Wall Street. GBP/USD trades above 1.6150 but failed during the American session to break above 1.6200. The Yen is consolidating gains across the board as it continues to trade near intra-day high across the board.