* Graphic: World FX rates in 2017 tmsnrt.rs/2egbfVh
* Global Assets in 2017 reut.rs/2ne9sjH
* Wall Street little changed, dollar dips
* MSCI world index on track for more than 6 pct gain for
* Oil falls, on track for quaterly decline
(Updates with early U.S. market activity)
By Caroline Valetkevitch
NEW YORK, March 31 An index of world stocks
dipped on Friday as investors locked in a quarterly gain that
has given equities their best start to a year since 2012, while
the dollar inched lower after a Federal Reserve official said
the U.S. central bank was in no rush to tighten policy.
U.S. stocks indexes were nearly flat in late-morning
trading. The S&P 500 was still on track to gain about 6 percent
for the first quarter, its biggest quarterly gain since 2013.
Emerging market equities fell sharply though, with the MSCI
emerging markets index down 1.1 percent on Friday.
MSCI's EM stocks index is up 12.5 percent on a dollar-adjusted
Shares saw profit-taking as traders squared up for the
quarter. There was remaining nervousness over South Africa's
sacking of its respected finance minister, which sent the rand
World stocks as measured by the MSCI world equity index
were down 0.3 percent on Friday but up 6.6
percent for the quarter so far.
In the United States, the Dow Jones Industrial Average
was down 22.98 points, or 0.11 percent, to 20,705.51, the
S&P 500 had gained 0.79 points, or 0.03 percent, to
2,368.85 and the Nasdaq Composite had added 7.58 points,
or 0.13 percent, to 5,921.92.
The dollar index was down 0.1 percent after New York
Fed President William Dudley said the central bank was in no
rush to tighten monetary policy and following uninspiring data
on the U.S. economy.
"A lot of the air went out of the balloon today because we
didn’t get quite the positive data set that we wanted and we’re
still getting relatively cautious commentary from the Fed," said
Boris Schlossberg, managing director of FX strategy at BK Asset
Over the quarter the greenback has fallen 1.8 percent, its
worst showing in a year, on doubts that U.S. President Donald
Trump was not prioritizing - and did not have the necessary
power to push through Congress - the economic reforms that had
driven the dollar to 14-year highs at the start of the year.
Next week promises to be an interesting start to the second
Trump and Chinese President Xi Jinping will meet in Florida
and the U.S. president has set the tone for a tense few days by
tweeting that Washington could no longer tolerate massive trade
deficits and job losses.
He will also sign executive orders on Friday aimed at
identifying abuses that are causing the deficits and clamping
down on non-payment of anti-dumping and anti-subsidy duties on
imports, his top trade officials said.
China's Vice Foreign Minister Zheng Zeguang said on Friday
that it does not have a policy to devalue its currency to
promote exports, and neither does it seek a trade surplus with
the United States.
In commondities, oil prices fell after a three-day rally ran
out of steam.
Brent oil were down 38 cents at $52.58 a barrel,
while U.S. crude futures were down 15 cents at $50.20 a
barrel after slipping back below $50. Both were are on track to
end the quarter around 7 percent lower.
For Reuters Live Markets blog on European and UK stock
markets see reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets
(Additional reporting by Marc Jones in London; Editing by John
Stonestreet and Alistair Bell)