5 May 2017. Daily Market Updates

dailyheadlines
Headlines-International
Asian stocks point lower ahead of U.S. jobs report. Asian equities looked set to end the trading week lower as a plunge in crude oil weighed on energy producers and investors awaited the U.S. employment report.
North Korea sanctions would get tougher under U.S. house measure. The U.S. House passed legislation that would expand economic and human-rights sanctions against North Korea as President Donald Trump’s administration is pledging to consider all options to rein in leader Kim Jong Uns nuclear arms ambitions.
Markets in Detail
FX:
The Bloomberg Dollar Spot Index slipped 0.2 percent, after gaining 0.4 percent Wednesday.
The euro added 0.9 percent to $1.0985, while the pound gained 0.4 percent.
The yen rose 0.3 percent to 112.385 per dollar.
Rates:
Yields on 10-year Treasuries rose three basis points to 2.35 percent, the highest since April 10. Two-year yields topped 1.30 percent for the first time since March 22.
Government bonds in Europe declined, with the yield on German bunds due in a decade jumping six basis points to 0.39 percent.
Equities:
The S&P 500 Index rose 0.1 percent to 2,389.49 at 4 p.m. in New York. The measure hasn’t moved more than 0.2 percent in either direction for seven straight sessions as it’s advance toward an all-time high has stalled.
Caterpillar Inc. and Chevron Corp. led declines in the Dow Jones Industrial Average, with losses that topped 1.9 percent.
Facebook Inc. slipped 0.7 percent after its results disappointed, while AIG added 1.9 percent.
The Stoxx Europe 600 Index advanced 0.7 percent, while the FTSE 100 jumped 0.4 percent.
Commodities:
West Texas Intermediate oil fell 4.8 percent to settle at $45.52 a barrel. Signs mounted that OPEC’s production cuts are failing to clear a surplus of crude.
Brent dropped 4.8 percent to $48.38 a barrel, falling below $50 for the first time since March 22.
Gold posted the biggest two-day loss since December as traders speculate the jobs report will bolster the case for raising interest rates.
Futures fell 2.6 percent to settle at $1,228.60 an ounce.
On the Dalian Commodity Exchange, ore for September delivery lost 7.3 percent, the maximum daily drop allowed, while in Singapore, SGX AsiaClear futures fell as much as 9.1 percent to $60.37 a ton.
Copper futures dropped 1.4 percent, extending Wednesday’s worst tumble since 2015.
Regards All.
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