Members commenced their discussion by noting that the slower pace of global economic activity had continued in recent months. This had been particularly evident in the manufacturing sector. Survey measures of conditions in the manufacturing sector had declined across a range of economies, although they had ticked up in China in March. Slower external demand, especially from China, had continued to weigh on export growth and the manufacturing sectors in the trade-exposed economies of east Asia, Japan and the euro area. In east Asia, the electronics cycle had turned, which had affected the region's exports as well as ... (full story)

The AUD/NZD pair trades near 1.0590 during early Tuesday. The pair dropped to the intra-day low after the Reserve bank of Australia (RBA) conveyed less likelihood of rate-hike bias and worries over the inflation and the gross domestic product (GDP) readings. The pair has been on an upside recently as positive news reports surrounding the US-China trade negotiations and positive data from China favored the Australian Dollar (AUD) as China is Australia’s largest consumer. Adding to the AUD strength could be a recent risk-on sentiment that went viral after China data and the US equities pleased optimists. Further, a ... (full story)