12 May 2017. Daily Market Updates

calendar
Markets in Detail
FX:
AUD/USD reverses drop to trade at 0.7377 at 3:44pm ET in New York; declined earlier amid falling iron ore prices. Market awaits data on credit card purchases
NZD declines the most among major peers after dovish comments from RBNZ’s Wheeler, NZD/USD drops 1.3% to ~0.6853; earlier fell to lowest since June 2016
The pound fell the most in a month after the Bank of England voted to keep rates unchanged by a 7-1 vote, an outcome that disappointed those betting the ranks of dissension would grow. GBP fell 0.7% to 1.2852
The yen traded at 113.82 per dollar as of 7 a.m. in Tokyo after dropping to a fresh low for the session at 113.46 as stop-loss sell orders were tripped
EUR/USD fell 0.1 percent to $1.0861 even as the Bloomberg Dollar Spot Index slipped 0.1 percent
CAD stabilizes in Europe amid rising commodity prices as concern about Moody’s downgrade of major banks fades; oil’s climb linked to OPEC ministers proposing extension of output cuts as well as advances in Asian equities
Rates:
US 10-year Treasury notes yield fell three basis points to 2.39 percent after rising for the past three sessions
German benchmark yields rose one basis point to 0.43 percent
Australian Government bonds (AGB) open higher matching a rise in U.S. Treasuries which started firm after dovish ECB comments and weak stocks though gains were later tempered by a soft 30-year auction. AGB 10-year yield declines 2bps to 2.63%
Equities:
Futures on the Nikkei 225 fell 0.5 percent in Chicago trading, while contracts on Australia S&P/ASX 200 Index retreated 0.2 percent. Futures on Hongkong Hang Seng Index fell 0.5 percent
S&P 500 Index pared the worst of its declines by more than half as health-care and consumer-staples producers rebounded. Retailers remained under pressure as disappointing results from Macy’s and Kohl’s Corp.
Commodities:
Oil slid 0.1 percent in early Friday trading. Crude climbed for a second day Thursday, leaving the worst of last week’s rout behind for now, as U.S. stockpiles fell and two OPEC members said there is a consensus to extend output cuts.
Gold traded flat at $1,225.41 after a 0.5 percent advance Thursday
West Texas oil rose 1.1 percent to $47.83 a barrel after jumping more than 3 percent Wednesday
Iron ore on SGX AsiaClear in Singapore fell as much as 4.5 percent to $59 a ton, the lowest since October amid a clampdown on leverage in China, the top consumer, and expanding global supply
Copper rallied after reports that China’s central bank will inject cash into the world’s second-largest economy
Regards All.
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