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Busy Week Down Under

By Michael Cooper May 23rd, 2016

Down Under

This weekend we look forward to the 42nd G7 summit which will be held on May 26–27, 2016 at the Shima Kanko Hotel in Japan. The attendees will include representatives from the seven G7 member states in addition to members of the European Union. It will be the first summat for Canadian Prime Minister Justin Trudeau.

After the summit concludes we can expect the members of the group to turn their attention to their own nations. Things are expected to be particularly busy in the Oceanic countries, as the Reserve Bank of Australia’s (RBA) Governor, Glenn Stevens, is due to speak early on Tuesday. Then, on Thursday, we will see the release of Australia’s private capital expenditure data. In addition, we will see the trade balance data from New Zealand late on Tuesday, followed by its annual budget on Thursday. Depending on what the numbers are, we can expect to see some volatility in the New Zealand dollar, though whether it will weaken or strengthen is dependent on what the information shows.

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