Global markets were characterized by oil price volatility and mixed PMI data, while a weak Australian jobs report sent the AUD lower and flattened yield curves. NZ rates followed offshore trends lower amid a relatively undersubscribed bond tender.
Key Takeaways
- 1.Australian labour market data for April was surprisingly weak, with employment falling by 18k and unemployment rising to 4.5%.
- 2.Oil prices experienced significant volatility overnight driven by conflicting reports regarding Iran's nuclear program and Middle East energy supply strains.
- 3.US growth remains resilient despite energy shocks, with the Composite PMI holding steady at 51.7 in May.
Table of Contents
- Events round-up
- Good morning
- Coming up
- Currencies
- Other FX
- Equities
- Commodities
- Interest Rates
- Policy Meeting Run
- NZ Government Bonds
- NZ BKBM and Swap Yields
- NZ Inflation-Indexed Bonds
- NZD exchange rates
- NZD/USD Forward Points
- NZD/AUD Forward Points
- Contact Details
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Authors
Stuart RitsonStephen ToplisMike Jones
Securities
S&P 500Brent OilNZ Government Bond 15-May-34AUDUSDRentenbank NZD Kauri
Themes
Geopolitical Tension and Energy SecurityGlobal Economic Resilience vs. Softening Data
Regions
Asia PacificEuropeNorth AmericaNew ZealandAustraliaUnited States