U.S. markets, slightly up after negative opening; Dollar pares gains

Fri, Nov 6 2009, 15:13 GMT
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FXstreet.com (Barcelona) - U.S. markets have opened Friday's session with declines following a weaker than expected Non-Farm payrolls report although they have swung to slight gains after a volatile opening. The Dollar has pared post NFP gains and reaches back to session lows against Euro and Pound.

Dow Jones Index Industrials Index trades 0.2% up while the Nasdaq Index adds 0.3%, and the S/P Index advances 0.1% in the first hour of trading.

On the macroeconomic front, U.S. non farm-payrolls have declined by 190,000 in October, somewhat above the 175,000 decline forecasted by the analysts, while the unemployment rate has risen 0.4% to 10.2%, its highest level in the last 26 years.

Dollar pares gains and returns to lows

EUR/USD has plunged from 1.4870 all the way to 1.4810 support level immediately after U.S. payrolls data was released, but the Euro bounced strongly at 1.4810 and has returned to test 1.4900 at the moment of writing.

GBP/USD dropped from 1,6580 to session low at 1.6515 to bounce afterwards, returning to levels right below 1.6600 at the moment of writing.

USD/JPY has plunged from 90.70 before U.S. employment data was released, to reach levels below 90.00, hitting an intra-day low at 89.80.

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