Market snapshot: risk tone perhaps on the defensive following G7 fallout - ANZ

Analysts at ANZ explained that the fallout from the G7 meeting could set the tone early this week and keep ‘risk’ (and hence the NZD) on the defensive.

Key Quotes:

"Ahead of the weekend’s G7 leaders meeting, the tone in markets seemed somewhat jittery, not helped by President Trump’s tweets (on “unfair trade” and a desire for Russia to re-join the G7)."

"The US dollar was a touch stronger, while the yen also benefited. At one point, all major US equity indices were lower, although they managed a better finish, with the DJIA and S&P 500 both closing up 0.3%."

"There was more red ink in Europe, with the FTSE100 and DAX both down 0.3%, while the CAC 40 finished flat."