US Federal deficit below $500 bln; Japan BOP surplus shrinks; AU budget awaited; AU insider trading arrest; Fonterra milk 8% up; NZ$1 = US$0.862, TWI = 80.1

Share on twitter
Share on facebook
Share on linkedin
Share on whatsapp
Share on email

The US Treasury announced today that the US Federal government had a surplus in April of $107 billion bringing its shortfall for the 12 months to its lowest level since 2000, a deficit of $499 bln or about 3.3% of GDP. That deficit is expected to keep reducing to well under 3% of GDP by the end of 2014.

American stocks rose, with the Dow and the S&P 500 hitting record highs and technology stocks extending their bounce. European stocks rose to their highest level in more than six years, but it was not the story in Japan.

Japan posted its smallest current account surplus on record for the fiscal year that ended in March, as structural changes in the economy undermine government efforts to achieve growth through exports.

Late yesterday, Fonterra reported that its milk flows in New Zealand were up 7% in the South Island and 8.2% in the North Island. In the West Island (Australia) however they were 3 % lower than for the same 11 month period a year ago.

All eyes today will be on the Australian Federal budget which is anticipated to be a tough one. It will be reported at 9:30pm tonight.

The insider release of market sensitive statistics before an embargo has been lifted has seen an arrestof an Australian Bureau of Statistics staff member. Apparently his tipoff resulted in a A$7 million profit.

The gold and oil prices both rose slightly overnight. The benchmark UST 10yr yield is now at 2.65%.

On the exchange rate, we start today with the NZ dollar virtually unchanged overnight at 86.2 USc, unchanged against the Aussie at 92.1 AUc and the TWI is just on 80.1.
 
Source: Interest

Mirá También

Así lo expresó Domingo Possetto, secretario de la seccional Rafaela, quien además, afirmó que a los productores «habitualmente los ignoran los gobiernos». Además, reconoció la labor de los empresarios de las firmas locales y aseguró que están «esperanzados» con la negociación entre SanCor y Adecoagro.

Te puede interesar

Notas
Relacionadas