CURRENCY MARKET WRAP
As of Tue, Apr 16th, Singapore Time zone UTC+8
Dollar Index, +0.01%, $96.93
USDJPY, -0.08%, $111.94
EURUSD, +0.04%, $1.1307
GBPUSD, +0.13%, $1.3101
USDCAD, +0.23%, $1.3370
AUDUSD, +0.02%, $0.7172
NZDUSD, -0.01%, $0.6766
It was a quiet start to the week of Good Friday and Easter.
U.S. Treasuries traded in a tight range on Monday. The 2-yr yield finished flat at 2.39%, and the 10-yr yield decreased one basis point to 2.55%. The U.S. Dollar Index finished flat at 96.93. WTI crude lost 0.7% to $63.45/bbl after Russia floated the possibility that it might boost production with OPEC to increase their market share.
S&P500, -0.06%, 2,905.58
Nasdaq, +0.01%, 7,629.12
Nikkei Futures, +0.20%, 22,138.0
S&P 500 declined 0.06% on Monday, as shares of financial stocks pulled back following another round of bank earnings. Despite the modest decline, the S&P 500 managed to close above the 2900 level in front of several key earnings reports later today. The market’s overall decline was kept in check following a turnaround in shares of widely-held stocks within the communication services (+0.2%) and consumer discretionary (+0.2%) sectors. Relative strength from the consumer staples (+0.7%) and health care (+0.4%) sectors was an added measure of support for the broader market.
Goldman Sachs (GS 199.91, -7.93, -3.8%) and Citigroup (C 67.38, -0.04, -0.1%) beat earnings expectations, but first quarter revenue for both companies declined on a year-over-year basis. Goldman’s revenue also came in slightly below expectations, and the quality of its EPS beat was questioned due to lower tax and compensation rates. The S&P 500 financial sector lost 0.6%.