News

Global markets ​remained mixed overnight amid conflicting reports on the prospect of a trade truce being reached this weekend at the G20 meeting in Japan between the US and China.

Closer to home, the Reserve Bank of NZ kept interest rates on hold as expected and indicated that more easing was likely to be necessary.

Federal Reserve Chair Jerome Powell pushed back on pressure from President Donald Trump to cut rates.

Trading is likely to remain subdued ahead of the G20 meeting later this week.

The key event for the week ahead is the G20 leaders meeting in Japan set for Friday & Saturday, with all eyes on talks between presidents Donald Trump and Xi Jinping.

This week’s podcast talks about the Cannasouth IPO, Smartpay annual report and provides a warning about CFD trading.

Fed Chair Jerome Powell held interest rates steady, as expected, and signalled potential cuts later this year.

Closer to home, rising expectations of further interest rate cuts drove Australian shares higher, as the Reserve Bank’s minutes from its June meeting revealed the possibility of two rate cuts before the end of the year

Global markets​ were higher overnight, with gains on Wall Street  with Facebook, Apple and Amazon leading the way, as investors awaited a key Federal Reserve meeting that is expected to lay the groundwork for an interest rate cut later this year. ​