Analysts at ANZ Bank New Zealand Limited note that trade uncertainty remains a persistent theme.
“Brexit headlines were mixed over the weekend, with further headlines expected this week.”
“On the US-China dispute, Trump said in an impromptu interview on Friday that he is ready to go on another USD267bn in tariffs on China at short notice, in addition to the pending USD200bn. He added that they “were putting on the final touches” to the USD200bn announcement. Prior to these threats, China’s Ministry of Finance announced higher rebates to support exporters in the face of higher duties.”
“Meanwhile, Chinese trade data releasedon Saturday showed the surplus with the US rose to a new record.”