(Updates prices, changes comment, dateline from previous LONDON)
* U.S. crude dips below $50 a barrel for first time since April 4
* S&P 500 slips, but losses broad
* Euro dips with French election in focus; dollar firms
By Rodrigo Campos
NEW YORK, April 21 (Reuters) - Oil prices fell on Friday as oversupply concerns resurfaced, while the euro and stocks dipped ahead of the first round in a too-close-to-call French presidential election.
Far-right leader Marine Le Pen, an anti-EU politician who wants to ditch the euro and narrowly trails front-runner Emmanuel Macron in French opinion polls, seized on the killing of a policeman by a suspected Islamist militant to push her policies on national security. Macron has been labeled as favorite to become the next French president, an unexpected Le Pen victory could deal a symbolic blow to the unity of the European Union and ultimately create a tidal wave of risk aversion," FXTM analyst Lukman Otunuga said in a note.
The Dow Jones Industrial Average .DJI rose 8.87 points, or 0.04 percent, to 20,587.58, the S&P 500 .SPX lost 2.75 points, or 0.12 percent, to 2,353.09 and the Nasdaq Composite .IXIC added 0.02 points, or 0 percent, to 5,916.80. and technology were the only S&P 500 sectors firmly in the black.
The pan-European FTSEurofirst 300 index .FTEU3 rose 0.13 percent and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.08 percent.
Emerging market stocks rose 0.30 percent. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.45 percent higher, while Japan's Nikkei .N225 rose 1.03 percent.
'RIDE OUT THE WEEKEND'
Doubts that an OPEC-led production cut will restore balance to an oversupplied market weighed on crude futures, with prices set to post their largest weekly drop in six.
U.S. crude CLcv1 fell 1.97 percent to $49.71 per barrel and Brent LCOcv1 was last at $52.06, down 1.76 percent on the day. currency markets, the euro edged lower against the dollar as investors braced for the first round on Sunday of a tight French presidential election race, while the dollar steadied as investors squared positions ahead of the Sunday vote.
"Traders understandably look content to flatten their books and ride out the weekend's events from the sidelines," Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington, said in a note.
The dollar index .DXY rose 0.2 percent, with the euro EUR= down 0.2 percent to $1.0693. Japanese yen strengthened 0.17 percent versus the greenback at 109.17 per dollar, while Sterling GBP= was last trading at $1.2768, down 0.31 percent on the day.
U.S. Treasury prices gained slightly with eyes on France and no major U.S. economic releases due to set market direction. 10-year note yields have held in a tight range since falling to five-month lows on Tuesday, as investors await a catalyst to determine if bonds will continue their rally. 10-year notes US10YT=RR last rose 5/32 in price to yield 2.2231 percent, from 2.241 percent late on Thursday.
Spot gold XAU= added 0.1 percent to $1,282.51 an ounce. U.S. gold futures GCcv1 gained 0.05 percent to $1,284.50 an ounce. CMCU3 lost 0.09 percent to $5,618.00 a tonne.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Graphic: World FX rates in 2017
http://tmsnrt.rs/2egbfVh French election graphic:
http://tmsnrt.rs/2jLwO20 Decision Europe Eikon page:
cpurl://apps.cp./cms/?navid=72745 Global assets in 2017
http://reut.rs/1WAiOSC Global bonds dashboard
http://tmsnrt.rs/2fPTds0
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>