Gold Prices Rise as Weak US Retail Sales Cut Fed Rate Hike Bets 
Canada-US Trade Talks Gain Momentum Ahead of Aug. 19 Tariff Deadline 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
European Stocks Steady as U.S.-Iran War, Euro Zone Data Keep Investors Cautious 
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns 
Wall Street Hits Record High as Softer Inflation Data Eases Fed Rate Hike Fears 
Japan Economy Grows 1.1% in Q2 as Consumer Spending Stalls 
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The New Zealand bonds rallied sharply at the time of closing Thursday as investors poured into safe-haven assets amid ongoing global political disturbances and as investors remained muted in a silent trading session that witnessed data of little economic significance.
At the time of closing, the yield on the benchmark 10-year bond, which moves inversely to its price, plunged 5 basis points to 2.98 percent, the yield on 7-year note slumped 4-1/2 basis points to 2.81 percent and the yield on short-term 2-year note also ended 4 basis points lower at 2.07 percent.
The ANZ Commodity Price Index slipped 0.8% m/m in July, but international prices remain 21% higher than July last year. Movements at the sub-category level were mixed. Eight of the sub-components rose, six fell and the remaining three were unchanged. The strong NZD/USD weighed further with local returns down 2.1% m/m, but they are still 18% higher than 12 months’ prior.
Meanwhile, the New Zealand’s benchmark S&P/NZX 50 Index ended 0.07 percent higher at 7,753.75 while at 06:00GMT, the FxWirePro's Hourly NZD Strength Index remained highly bearish at -157.05 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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