Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
New Zealand bonds jumped at the time of closing Monday after the country’s retail sales data for the first quarter of this year declined, thus providing support to debt prices. Also, investors are now focussing on the country’s trade balance data, scheduled to be released on May 23 by 22:45GMT.
At the time of closing, the yield on the benchmark 10-year note, which moves inversely to its price, slumped 4 basis points to 2.85 percent, the yield on the long-term 20-year note also plunged 4 basis points to 3.39 percent and the yield on short-term 2-year too closed 1-1/2 basis points lower at 1.87 percent.
The country’s retail sales volumes rose just 0.1 percent q/q in Q1, versus market expectations of 1.0 percent q/q. Growth in the preceding quarter was also revised down from 1.7 percent to 1.4 percent q/q. Annual growth fell from 5.4 percent to 3.0 percent. In per capita terms, real spending fell 0.4 percent q/q, to be up 1.5 percent y/y.
Market players may take heart that the US and China have decided on “putting the trade war on hold” according to US Treasury Secretary Mnuchin which came on the back of talks in Washington last week after China agreed to “substantially” reduce the US trade deficit, albeit there was some confusion if China would adhere to the US demand for a US$200 annual reduction.
Meanwhile, the NZX 50 index closed 0.48 percent lower at 8,615.72, while at 06:00GMT, the FxWirePro's Hourly NZD Strength Index remained neutral at 22.78 (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
