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New Zealand bonds close higher on hopes of deterioration in April trade balance data

New Zealand bonds ended Tuesday’s session on a higher note as investors hope to see a worse deterioration in the country’s trade balance data, scheduled to be released on May 23 by 22:45GMT amid an otherwise, silent trading week.

At the time of closing, the yield on the benchmark 10-year note, which moves inversely to its price, slid 1/2 basis point to 2.84 percent, the yield on the long-term 20-year note also fell 1/2 basis point to 3.38 percent and the yield on short-term 2-year closed 1 basis point lower at 1.86 percent.

Wall Street rose on optimism over the US-China trade truce, while the 10-year UST bond yield traded little changed as market players awaited the upcoming release of the 2 May FOMC minutes for a clarification of the “symmetric” phase in the last FOMC statement. 

Meanwhile, the NZX 50 index closed 0.028 percent lower at 8,613.32, while at 06:00GMT, the FxWirePro's Hourly NZD Strength Index remained highly bullish at 109.36 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

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September 24 19:00 UTC Released

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