Asian stocks opened mixed as concerns linger over the impact of potential global trade restrictions. Chinese assets will be in the spotlight again with both the currency and stocks under pressure.
Elsewhere, the pound lost some ground as a new Bank of England member spoke about the risks of raising interest rates too fast. US consumer confidence eased in June and slipped to 126.4 while consumer sentiment on current economic conditions was little changed from May.
Closer to home, New Zealand’s monthly trade balance surged to a surplus of $294 million, which is higher than the average monthly surplus in the last five May months. Overall exports were up $509 million to $5.4 billion, with meat exports having the largest increase. While value of total imports rose $277 million.