Fundamental Headlines
• NZDUSD – The New Zealand’s trade deficit narrowed to NZ$1.75 billion year-over-year from NZ$2.39 billion for the same period- the lowest in four years. A 20% rise in dairy prices increased the value of exports and help offset an increase in oil imports. However, an rise in the investment deficit signaled that the high yielding currency is losing its luster. For more news and resources, visit our New Zealand Dollar Currency Room.
• AUDUSD – Australia’s index of leading economic indicators rose 0.3% in April following a 0.4% decline the month prior. The forward looking gauge shows that the robust Australian economy shows no signs of slowing despite 12 year high interest rates. If the economy fails to cool and inflationary pressures mount, the RBA may have to consider raising interest rates in the near-term. For more news and resources, visit our Australian Dollar Currency Room
• EURUSD – German import prices soared 2.4% in May following a 0.9% increase the month prior, which was the most in almost 18 years. Rising oil prices have pushed up costs leading the annualized rate to increase 7.9% from 5.7% in April. The ECB’s concerns over inflation continue to be validated, which may lead to the central bank raising rates at their next policy meeting. Discuss the topic and your trade ideas in the
• Anheuser For Fight With InBev (link) – Wall Street Journal
• Countrywide Pressures Mount (link) – Wall Street Journal
• Fed Sits Tight As ECB Chief Signals Rate Rise (link) – Financial Times
• Americans, Hurt By Rising Gas Prices, Curb Spending Poll Finds (link) – Bloomberg
• Unicredit To Cut 9,000 Jobs After $61 Billion Of Acquisitions (link) Bloomberg
