28 March 2017. Daily Markets Updates

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FX:
AUD/USD remains steady in face of lower iron ore and dollar pullback. Currently at 0.7625
The Bloomberg Dollar Spot Index fell 0.4 percent, paring its gain since Nov. 8 to 1.4 percent. The measure is down 4.1 percent in 2017.
USD/JPY reaches fresh 4-month low of 110.11; even though it’s retained more than half of its post-election gain.
The euro gained 0.6 percent to $1.0866, a four-month high, after Angela Merkel’s election victory in Saarland state delivered a reality check in this year’s contest for the German chancellery. The British pound added 1 percent.
Rates:
Yields on 10-year Treasuries dropped four basis points to 2.37 percent, after giving up one basis point on Friday. The rate is the lowest since Feb. 27.
Two-year notes underperformed as the government sold $26 billion of new securities in the first of this week’s three auctions.
Core European bunds ended little changed, with the German 10-year yield at 0.40 percent.
Equities:
The S&P 500 dropped 0.1 percent to 2,334.59 at 4 p.m. in New York, paring a loss that reached 0.9 percent. The measure dipped below its average price for the past 50 days for the first time since Nov. 9.
The Nasdaq 100 and Nasdaq Composite indexes added 0.2 percent and small caps in the Russell 2000 rose.
The Stocks Europe 600 Index retreated 0.4 percent as it was dragged down by miners and banks.
The MSCI Emerging Market Index dropped 0.4 percent.
Commodities:
Gold rose 0.6 percent to settle at $1,258.60. The metal touched $1,264.20, the highest since Feb. 27 and above its average price for the past 200 days.
Oil fell as a pledge by OPEC-led producers to consider extending their output-cut deal failed to excite traders concerned that more time is needed to trim global stockpiles.
West Texas Intermediate oil slipped 0.6 percent to settle at $47.73 a barrel, erasing an earlier gain of as much as 0.7 percent.
Copper futures erased losses that reached 2.5 percent on the Comex in New York, rising as equities turned higher in afternoon trading.
Regards All.
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