US GDP tracking update – Nomura

Analysts at Nomura offered their GDP tracking update. Key Quotes: "The April trade report, which included annual revisions to previous data, implied less drag from net exports in Q1 and Q2, relative to BEA assumptions and our previous forecast, respectively. However, for Q2, net exports o ...

Japan JP Foreign Reserves dipped from previous $1256B to $1254.5B in May

Japan Foreign bond investment down to ¥-1665.8B in June 1 from previous ¥-717B

Japan Foreign investment in Japan stocks dipped from previous ¥-380B to ¥-527.6B in June 1

Australia HIA New Home Sales (MoM) dipped from previous -2% to -4.2% in May

Trump setting up for a battle with Congress over tariff bill – Politico

According to reporting by Politico, US President Trump made a personal phone call to Republican Senator Bob Corker, asking him to back away from his bill proposal that would see the Senate strip away the President's power to enact trade tariffs based on 'national security' withou ...

US Pompeo: US “won’t allow” Iran to build nuclear weapons – Reuters

As reported by Reuters, US Secretary of State Mike Pompeo stated on Wednesday that the US is aware of reports that Iran plans to increase its uranium enrichment capacity, and that Washington will not allow Iran to build nuclear weaponry. Pompeo, one of the Trump administration staffers responsibl ...

Key events coming up and previews – TDS

Analysts at TD Securities offered their outlook for the key events coming up today. Key Quotes: "AUD The trade surplus for April is expected to remain healthy at +$A1.2b (mkt +$A1b) although imports at +2.4%/m likely outpaced export growth of +1.5%/m (taking guidance from Chinese trade wit ...

El-Erian: Brazil could be next in EM contagion – Bloomberg

As reported by Bloomberg, Allianz SE's chief economic advisor Mohamed El-Erian has noted that Brazil is likely to be the next Emerging Market (EM) 'domino' to fall as contagion continues to spread. Key quotes "Brazilian policymakers are in a "tricky position -- an ...

AUD/USD continuing into recent highs ahead of Aussie Trade Balance

Aussie keeps a hold of post-GDP gains, heads into Trade Balance on a positive note. Risk appetite remains healthy for now, but reversal on trade tensions could happen at any time. The AUD/USD is trading into 0.7670 in early Asia trading after a bump up the charts on the back o ...

Australia AiG Performance of Construction Index declined to 54 in May from previous 55.4

Wall Street: Nasdaq hit a new all-time high, Dow Jones closes above 25,000

Rising US Treasury yields boost bank stocks as rising interest rates is generally bullish for banks. The Nasdaq climb to a new all-time high while the Dow Jones post its best daily advance in nearly 2 months. The S&P 500 rose 0.9% to close at 2,772.35 as financial stocks gained 1.9%. Th ...