Record oil prices drive Asian stocks lower |
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- Economic Data: In Q1, New Zealand's GDP contracted (Q1 GDP QOQ: -0.3% V -0.3%E; YOY: 1.9% V 2.0%E), while the May Trade Balance reading was much worse than expected (MAY TRADE BALANCE: - 196M V 150.0ME). The data initially drove the NZD to session lows, but the NZD is currently gaining as the NZ government had already alluded to a possible negative GDP reading. In Japanese inflation data, May CPI had its largest rise in 10 years (MAY NATIONAL CPI: 1.3% V 1.3%E; CORE: 1.5% V 1. 4%E). In terms
Filed under: Fundamental
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