Australia
The Australian Dollar (AUD) has remained fairly resilient over the week holding above the weekly open of 0.7520. Receiving a bounce late Wednesday during US session back to 0.7600 after RBA governor Lowe’s speech earlier suggested that the central bank would focus on rising Chinese debt levels and the effect this could have on the Australian Economy. The assistant governor Bullock is to speak later in the week in Amsterdam but until then markets will be hanging off every word spoken in regards to Trump and North Korea issues for guidance to further direction.
New Zealand
Wednesdays Trade Balance figures printed higher than expected at 263M with an expected surplus of 200M. These figures were considerably better than the April figures which were -86k. April exports of NZD 5.05B come in higher than the estimated 4.85B. Fruit exports were among the best resulting in a rise of 51% to 615M, led by a rise in quantity of 61% in kiwifruit. Markets will be led by risk sentiment towards the end of the week, with prospects of the kiwi trading lower against its peers if a risk averse sentiment continues. Read more