Markets retreat on earnings, Dudley

FXStreet (Edinburgh) - US shares are trading with modest losses on Tuesday following poor earnings reports and the speech by NY Fed President W.Dudley.

According to Dudley, the economy is still far from the FOMC’s target, remarking the sluggish pace of the housing sector as well as the poor level of business or capital investment. As of writing the Dow is retreating almost 1% followed by the S&P500, 0.85% and the Nasdaq, 1.03%. The greenback, gauged by the DXY, is posting marginal gains, enough to keep the trade above the critical 80.00 handle.

In Euroland, mixed earnings reports weighed on sentiment, dragging the main indices lower with the exception of the IBEX35, up 0.27% for the day. The FTSE100 retreated 0.62% seconded by the CAC40 and the DAX, losing 0.21% and 0.39%, respectively. The EUR/USD is wobbling around the 1.3700 figure, always within the recent narrow range.

In the commodities’ land, the ounce troy of gold is advancing a marginal 0.08% around $1,295 while the barrel of WTI is dropping 0.1% in the mid-$102.00s.