Nuix worst performer in the benchmark index Gold stocks gain on higher bullion prices (Updates to close)
May 31 (Reuters) - Australian shares retreated on Monday after hitting a record high earlier in the session, as COVID-19 cases in the populous state of Victoria continued to swell while investors awaited signs of hawkishness in the central bank meeting due this week.
The S&P/ASX 200 index, which crossed the 7,200 mark for the first time ever, closed 0.3% lower at 7,161.6. The index secured an eighth straight monthly gain in May.
Victoria, the epicentre of Australia’s latest coronavirus hotspot, reported 11 new cases of community transmission, taking the current cluster to 51. The state’s Acting Premier James Merlino warned that the next few days will be “critical”.
3 Min Read
SYDNEY, May 28 (Reuters) - The New Zealand dollar was ending the week with hefty gains on Friday as the prospect of early interest rate hikes widened its yield advantage over Treasuries, leaving its Australian counterpart trailing far behind.
The Aussie was idling at $0.7745, having spent the entire week trapped in a tight $0.7706/0.7796 range. A break of $0.7675 or $0.7813 is needed to end the deadlock and spark a new trend.
The story was very different for the kiwi, which was up at $0.7276 having climbed 1.7% for the week. It reached a three-month peak of $0.7316 at one stage, though that proved to be stiff resistance.