US markets trim losses after a grim start on Cyprus

FXstreet.com (Barcelona) - Shares in the US markets are recovering ground on Monday after a gloomy start, as negative effects from Cyprus’s bailout continue to weight on investors’ sentiment. The US dollar posted an important opening gap above the 83.00 figure, although it has been grinding lower since then to the current levels around 82.83
DowJones is losing0.03%, followed by the Nasdaq and the S&P500, down 0.11% and 0.23%.

Red was the predominant colour in Europe, as markets extended its losses for the second consecutive session as jitters on Cyprus dominated the markets. The iBEX 35 led the losses, 1.29%, seconded by the FYSE100, 0.49% and the cac40, 0.48%.
After dipping to fresh 2013 lows around 1.2880, the single currency has managed to regain the key resistance of 1.2900 and to climb further to the vicinity of the 1.3000 handle, although the bull run faltered and the euro slipped back to the current area of 1.2965/70

Commodities reversed initial losses, with the barrel of WTI now gaining 0.29% at $93.72 and the ounce troy of the precious metal up 0.70%, at $1,603