The qi is higher as the US dollar comes under pressure from falling rates and recession fears. ANZ Bank economists expect ongoing volatility.
NZ considerations are relegated to the background
“Bond markets have taken the view that the Fed will hike one more time, and then start cutting by September, perhaps on the view that confidence and spending will hit a brick wall. It is possible, but of course, the starting point for inflation is problematic.”
“The point is, there are a lot of ifs and buts, and tonight’s CPI data is likely to be more volatile.”
“NZ considerations have well and truly leaked into the background, and that’s the USD show.” “Positioning, and the need to be nimble, may dominate the economy for now.”
