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FXstreet.com (Barcelona) - Ahead of the US economic calendar releases, the American futures were hedging higher despite the overall risk-off sentiment coming from the Eurozone (rising yields on 10-year Spanish bonds, the French credit rating downgrade (unfounded) rumors and softer Italian data (February industrial orders fell by 2.5% m/m).

Initial jobless claims disappointed by only dropping by 2000 unemployed to 386K, while consensus pointed to 370K for the week that ended last Friday. Continuing jobless have risen 26K from 3.271M to 3.297K.

In housing data, home sales have dropped by -2.6% (against rising expectations of 0.4%) from 4.60M to 4.48M.

In the manufacturing area, Philadelphia Fed pointed to the lowest score since January, at 8.5 in April.

All three major US indexes, S&P 500, Dow Jones 30 and Nasdaq 100 have jittered extensively to even edge lower on the day. As of writing, while Dow Jones 30 is still down by -0.11% ($12944), the S&P 500 have risen above the opening and trades at $1378, up by 0.04%, and Nasdaq 100 pulls off extra 0.84% ($2715).

The European markets are extending their losses, with German DAX 30 and French CAC 40 down by -0.50% and -1.50%, respectively. The peripherals Spanish IBEX 35 and Italian FTSE MIB plunge by-2.10% and -1.35%.

Crude oil dropped below $103.00, trading now at $102.75, -0.33% fall on the day. Gold is edging higher on risk-off sentiment, up by 0.33% at $1646.

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