US President Donald Trump’s comment on monetary policy continues to weigh on the greenback. Meanwhile the market awaits trade talk, and the Federal Reserve minutes for directional clues. The US-China trade talks are due to begin later tonight in Washington.
The benchmark S&P 500 closed at record high yesterday and equaled it’s longest-ever bull-market run. It was boosted by strong earnings report in the consumer sector and is relatively calm in the US-China trade dispute.
Great Britain’s sterling surged up a bit yesterday after their chief Brexit negotiator, Dominic Raab, said that the country is still confident it can reach an exit deal with the European Union in October.
Closer to home, New Zealand retail sales jumped in the second quarter posting annual growth of 3.1 percent. The strong data suggested that the second-quarter GDP would overshoot the Reserve Bank of New Zealand’s forecast of 0.5 percent.