Headlines have crossed of further HKMA intervention to protect the top end of the USD/HKD peg band a...
Find more articles and bullets on these widgets:
Overnight, the fortnightly whole milk powder auction saw prices fall a further 3.7% versus the prior result. From $4332, we are now back at $4173. This is the second consecutive decline for the auction result, but by recent standards we are still elevated from an historical standpoint. The chart blow plots the auction whole milk price against the Citi terms of trade index for NZD.
Fig 1: Whole Milk Auction Price & Citi Terms Of Trade For NZD
0000BST | 0700HKT | 0900AEST | Australia May F S&P PMI Services |
0000BST | 0700HKT | 0900AEST | South Korea May CPI |
0130BST | 0830HKT | 1030AEST | Japan May F Jibun Bank Services PMI |
0230BST | 0930HKT | 1130AEST | Australia Q1 GDP |
0230BST | 0930HKT | 1130AEST | Australia Q1 Company Profits |
US light vehicle sales (cars and light trucks) fell more sharply than expected in May, to 15.65M (16.00M expected, 17.27M prior), per Wards Automotive Group data.