The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* Markets rally hard as some punitive tariffs will be removed as part of trade deal
– So finally something tangible and both sides in agreement
* Equities fresh highs, US Treasuries +16bps/1.97% and US dollar gains
* Despite positive outcome Kiwi unable to make much headway
– Whilst a trade agreement positive another potential rate cut here clearly caps
* Yesterday’s Australian Trade surplus $7.2bn up from upgraded $6.6bn
– NZDAUD finally…