Daily Market Commentary
US/China trade talks recommenced in London overnight, and markets await the outcome, with apprehension. Expectations are high for a recommitment, to the previously agreed interim trade deal, inked in Switzerland. The hope is that a formalised negotiating process would be finalised, and a long-term agreement put in place. Chinese trade data reflected the disruption in trade, post-'Liberation Day', but held up much better than expected. The massive trade surplus continued, and exports still increased by more than 6%, in Q1. The US Dollar was softer, with the EUR regaining 1.1400, while the GBP broke above 1.3550.
The weaker reserve allowed a recovery in commodity currencies, with the AUD regaining 0.6500, while the NZD pushed up towards 0.6050. Inflation data out of Europe and the US, will be a key focus this coming week, following the US/China trade talks.
Dates & Headline
9/6 Japan Current Account, Japan GDP, Japan Trade, China CPI, China Trade Exports/Imports
10/6 Australia Business/Consumer Confidence, UK Employment, NFIB Small Business Optimism
11/6 Japan PPI, US Weekly Mortgage Applications, US CPI
12/6 NZ Credit Card Spending, UK Trade, UK GDP, UK Industrial/Manufacturing PMI, German Current Account, US Weekly Jobless Claims, US PPI
13/6 Japan Industrial Production, German CPI, France CPI, EU Industrial Production, EU Trade, University of Michigan Economic Sentiment
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