FXstreet.com (San Francisco) - According to Alvin Pontoh, Asia-Pacific Macro Strategist at TD Securities: "The only data releases worthy of note are NZ trade data due on Wednesday (May), NZ building consents (Friday) and finally Australian private credit growth (Friday)." "We expect the trade balance to remain largely unchanged at about NZD300mn (previous: NZD355mn)." He forecasts.
"For building consents, we look for evidence of Christchurch rebuilding. We expect Australian credit growth to have stayed moderate in May with another +0.4% gain. We’ll be watching housing (mortgage) credit particularly closely, given the RBA’s 50bp rate cut early last month." He adds.
"For building consents, we look for evidence of Christchurch rebuilding. We expect Australian credit growth to have stayed moderate in May with another +0.4% gain. We’ll be watching housing (mortgage) credit particularly closely, given the RBA’s 50bp rate cut early last month." He adds.
