The U.S. Dollar finished mixed against most major currencies after erasing early session gains against some markets. Early in the trading session, the Dollar was up as traders sought safety and lower yields following a report that showed China’s GDP was less than analyst estimates.
After a sharp sell-off earlier in the week, which took a basket of currencies to a 14-month high versus the Dollar, the greenback managed to post a small gain. The strong comeback in the Dollar was helped on Friday by an early sell-off in stock index futures and a weaker than expected consumer confidence figure.
U.S. equity futures are trading higher after the close following a better than expected earnings report from Intel. Throughout the day the markets treaded water as traders were unwilling to commit heavily to either side prior to the release of the Intel figures. Expectations are for upside momentum to build overnight, leading to a potential gap opening higher tomorrow.
U.S. stock index futures closed lower on Tuesday. Equities were higher early this morning after a friendly Case-Schiller Housing Report but these gains were quickly erased after the Michigan U.S. Consumer Confidence Report showed a drop. Weaker technology issues drove the markets lower. The main trend has turned down in all three major indices on the daily chart.
