U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
New Zealand bonds slumped at the time of closing Friday after global political conditions start to improve, with the United States’ President Donald Trump continuing to surprise market participants.
At the time of closing, the yield on the benchmark 10-year note, which moves inversely to its price, jumped 2-1/2 basis points to 2.77 percent, the yield on the long-term 20-year note also surged 2-1/2 basis points to 3.29 percent and the yield on short-term 2-year too closed 2-1/2 basis points higher at 1.88 percent.
Caution may be the key word today on overnight news that the US will levy new steel and aluminum tariffs on EU, Mexico, and Canada (after a temporary exemption) which swiftly prompted planned retaliatory responses from the recipients. With the resurgence of trade tensions, Wall Street slipped overnight and the flight to quality drove global bonds higher, albeit the 10-year UST bond yield ended at 2.86 percent.
Asian bourses may fluctuate today, as a fickle Trump administration continues to surprise its trade partners, and investors await fresh cues from the US trade tantrum and tonight’s key US’ nonfarm payrolls, unemployment and average hourly earnings report (which is anticipated at 190k, 3.9 percent and 2.6 percent y/y respectively for May versus 164k, 3.9 percent and 2.6 percent in April).
Meanwhile, the NZX 50 index closed 0.26 percent lower at 8,636.16, while at 06:00GMT, the FxWirePro's Hourly NZD Strength Index remained highly bullish at 102.03 (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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