Morning Market Update – Kiwi Dollar Shows a Small Change

South Korea’s Consumer Sentiment Index came in at 111.1 in June versus a previous value of 108. New Zealand saw a mixed reaction with the New Zealand Trade Balance (YoY) registering at $-3.75B and going below expectations with a value of $-3.398B and New Zealand Exports coming in at $4.95B and going above expectations with a value of $4.93B. However, the New Zealand Trade Balance (MoM) went down below the forecasted values of $420M.

In the fourth annual European Central Bank (ECB) forum, ECB President Draghi didn’t comment on both the economic outlook and monetary policy of the Eurozone.

Moving on for the day, we have the Reserve Bank of Australia (RBA) Deputy Governor Guy Debelle’s speech which will help the Aussie to gain some momentum as they have been in the side line for the week so far. The sterling pound shall look forward to the Financial Stability Report and CBI Distributive Trades Survey. However, the pound will remain focused on the statement made by Bank of England (BoE) Governor Carney’s speech.

Regarding the dollar, the S&P/Case-Shiller Home Price Indices maintained the levels at 5.9% and the Richmond Fed Manufacturing Index gained some momentum with the forecasts at 4 when compared to the previous value of 1. Late in the day, we have the FOMC Member Harker’s speech followed by Fed Chair Yellen’s speech.
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