Here's our summary of key events overnight that affect New Zealand, with news of further shake ups in the Trump administration.
The US President has used Twitter to inform his Secretary of State, Rex Tillerson, he's being replaced by CIA director and former Tea Party congressman, Mike Pompeo. The move is yet another example of Trump removing critics from his inner circle.
Tillerson, who had reportedly called Trump a 'moron', broke from the President by saying Russia was behind the recent nerve agent attack in Britain. He also clashed heads with the administration on North Korea, with Trump tweeting he was "wasting his time trying to negotiate with Little Rocket Man".
New data shows US consumer prices increased marginally, in line with expectations, in February. The CPI rose 0.2% last month, after jumping 0.5% in January. In the year to February, it rose 2.2%. The latest figures reflect a drop in the price of gas and a moderation in the cost of rental accommodation. While this is the latest indication an anticipated pickup in inflation is likely to only be gradual, any sign that inflation is set to spike, will again see markets get jittery.
British counter-terrorism police are investigating the "unexplained" death of another one of Vladimir Putin's enemies. Russian exile and close friend of the late oligarch Boris Berezovsky, Nikolai Glushkov, was found dead in his London home yesterday. British police say there's nothing to suggest the death was linked to a nerve agent attack on a former Russian spy and his daughter.
The OECD, in its latest 'Interim Economic Outlook, says it expects the world economy to strengthen this year and in 2019. It sees global GDP growth rising to 3.9%, from 3.7% in 2017, yet warns tensions around trade could threaten this growth. Overall the OECD sees private investment and trade picking up on the back of strong business and household confidence. It also sees inflation rising slowly.
In New York, the UST 10 yr yield is down slightly to 2.86%.
The gold price is unchanged at US$1,319/oz.
The US benchmark oil price is down a touch to US$60.50/bbl. The Brent benchmark is stable at US$64.50/bbl.
While the main currency theme overnight was a weaker USD on the back of further change at the White House, the NZD still outperformed. It's up to 73.3 USc and 93.3 AUc and down to 59.2 euro cents. The TWI-5 is up to 74.2.
Bitcoin has fallen by US$18 to US$9,182.
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