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New Zealand bonds closed lower on Tuesday as investors wait to watch the country’s employment report for the second quarter of this year, scheduled to be released today by 22:45GMT.
At the time of closing, the yield on the benchmark 10-year note, which moves inversely to its price, jumped 3 basis points to 2.79 percent, the yield on the long-term 20-year note also surged 3 basis points to 3.09 percent while the yield on short-term 2-year closed 1-1/2 basis points to 1.84 percent.
On the geopolitical front, US president Trump signalled he is willing to meet Iranian president Rouhani with “no preconditions”, but North Korea is supposedly working on new missiles according to the Washington Post.
Asian markets may approach this morning’s trading with a cautious tone amid Wall Street’s retreat, the tech stock tumble, and oil’s climb past USD70 per barrel into the month-end.
Meanwhile, the NZX 50 index closed 0.37 percent higher at 8,933.89, while at 06:00GMT, the FxWirePro's Hourly NZD Strength Index remained neutral at 5.64 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
