Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Kevin Hassett Says Inflation Is Below Target, Backs Trump’s Call for Rate Cuts 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
New Zealand government bonds closed Tuesday’s session on a higher note as demand for safe-haven instruments continued amid a mild recovery in equities in a muted trading week that is scheduled to witness data of least economic significance. Also, the upcoming Chinese Lunar New Year holidays have cast a gloomy sentiment worldwide, leading to rise in demand for safe-haven assets.
At the time of closing, the yield on the benchmark 10-year Treasury note, which moves inversely to its price, slumped 2-1/2 basis points to 2.99 percent, the yield on 20-year also plunged 2-1/2 basis points to 3.51 percent and the yield on short-term 2-year closed 2 basis points lower at 1.88 percent.
Global risk sentiments look likely to stabilise further today, given Wall Street’s bounce overnight and Asian bourses preparing for the upcoming Chinese New Year holidays, but the rally could be short-lived if US inflation prints surprise on the upside tomorrow. US president Trump unveiled his 2019 Budget wish list which outlines a USD1.5 trillion infrastructure package, which brilliantly has the federal government only coughing up USD200 with the rest being funded by the state and local governments.
As part of suggesting fiscal discipline, the plan also includes deep non-military spending cuts that should pare the federal budget deficit by more than US$3 trillion over the next decade, but basically, the budget plan needs to pass Congress and not endanger inflationary concerns either through fuelling wage inflation or warranting higher Treasury issuance.
Meanwhile, the NZX 50 index closed 0.78 percent higher at 8,122.22, while at 05:45GMT, the FxWirePro's Hourly NZD Strength Index remained neutral at 51.59 (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
