Analysts at ANZ explained that the fallout from the G7 meeting could set the tone early this week and keep ‘risk’ (and hence the NZD) on the defensive.
Key Quotes:
“Ahead of the weekend’s G7 leaders meeting, the tone in markets seemed somewhat jittery, not helped by President Trump’s tweets (on “unfair trade” and a desire for Russia to re-join the G7).”
“The US dollar was a touch stronger, while the yen also benefited. At one point, all major US equity indices were lower, although they managed a better finish, with the DJIA and S&P 500 both closing up 0.3%.”
“There was more red ink in Europe, with the FTSE100 and DAX both down 0.3%, while the CAC 40 finished flat.”
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