By Rhys Miles
Not surprisingly, caution has prevailed in overnight markets as we approach key data towards the end of the week. A slight risk averse tone prevailed after earlier Chinese trade data disappointed reporting a fourth straight month of decline in exports. That though is secondary as we approach the US Fed, ECB and British election this week.
US and European equities declined marginally with oil bouncing after OPEC promised to cut production in 2020. Any other commentary will be speculative given the potential outcomes of this week’s key events and trade talk results.
New Zealand data continues to impress with Q3 manufacturing data yesterday beating expectations with some commentators looking to upgrade their Q3 GDP data out on the 19th December.
The AUD remains range bound and has barely moved against any currency in the last 48 hours.
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