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Markets across the board have been weak after sentiment turned negative after the FOMC minutes yesterday reduced the odds of another round of Quantitative Easing from the US Federal Reserve and concern about the Spain’s debt.

The Dow Index traded up from its lows but still erased 124 points to close at 13,074.75 while the S&P 500 tumbled 14.42 points to finish at 1,398.96. Earlier in the session the German Benchmark plunged 2.84 percent to close at 6784.

On the economic front, private employers added 209,000 jobs in March, according to the ADP National Employment Report. Economists had expected a gain of 200,000.

The euro fell to the lowest level in a month against the USD after demand declined at the Spanish bond auction, adding to concern the region is still struggling to overcome its sovereign debt crisis. The EURUSD (see above chart) traded down form overnight highs of 1.323 to recent lows of 1.3110.

Gold fell to a 12 week low on signs that the Federal Reserve won’t provide additional stimulus to the US economy, boosting demand for the USD and therefor eroding the appeal of the metal and an alternative investment


INDICES

Last Traded
SPI 200 future 4312
S&P500 Index 1398
Dow Jones 13074
FTSE 100 Index 5703

COMMODITIES
Last Traded
Gold 1620
Oil (Nymex) 102.07

CURRENCIES
Last Traded
AUDUSD 1.0266
EURUSD 1.3141
GBPUSD 1.5892
USDJPY 82.45
Source
Bloomberg, Dow Jones News
http://www.vantagefx.com/market-news/market-wrap/