A slow start to the week, on the economic data front, so markets were heavily focused on the Ukraine peace negotiations. Following the iconic summit in Alaska between Presidents’ Trump and Putin, Trump meets with Zelensky and other European leaders in the Whitehouse. The Trump/Putin negotiations went well and now comes the time for Zelensky to accept the peace agreement, or the war to continue, without the support of the US. This is a crossroad in the longstanding and extremely costly war. The US Dollar gained some ground, with the EUR easing to 1.1660, while the GBP drifted to 1.3500.The rising reserve forced the AUD back below 0.6500, while the NZD may test the downside of 0.5900, once again. NZ markets will be focused on the RBNZ rate decision coming this week, where they are expected to cut rates, following the RBA. This week will also pay attention to the Central Bank Symposium in Jackson Hole and the release of the Fed minutes.
