New Zealand’s retail sales volumes dropped by -1.9% qoq, a figure far below the expected decline of -0.2% qoq. This also marked the eighth consecutive quarter of contraction. Excluding auto sales, the decline was marginally Read more…
Fed Governor Christopher Waller advocated for Fed to “wait a little longer,” suggesting that “at least another couple more months” of economic data would be crucial before commencing any policy easing. In a speech overnight, Read more…
As the winter months come to a close and aspiring vacationers begin to sense the approach of spring, many are looking for opportunities to travel. Whether for spring break or for one last chance to Read more…
Key Highlights USD/JPY is eyeing a fresh increase above the 150.80 resistance. A connecting bullish trend line is forming with support at 150.00 on the 4-hour chart. Gold is still facing resistance near the $2,040 Read more…
In a speech overnight, Fed Governor Lisa Cook articulated her stance on waiting for more definitive signs of inflation moving towards 2% target before considering any policy rate reductions. “I would like to have greater Read more…
Philadelphia Fed President Patrick Harker did not dismiss the possibility of a rate cut as early as May meeting. But he emphasized the importance of observing “a couple more months” of economic data before making Read more…
Absent a new inflationary shock, central banks’ next moves are likely to be down. We expect the first cut in Australia to occur after the late-September meeting. Here we explain our reasoning behind this timing. Read more…
Westpac economics sees the RBNZ leaving the OCR at 5.5% at the February Monetary Policy Statement and adopting a hawkish outlook for the OCR. Hawkish hold expected We expect the RBNZ will leave the OCR Read more…
Retail spending was much weaker than expected in the December quarter, highlighting weak household spending appetites in the face of high inflation and high borrowing costs. December quarter real retail sales (volumes): -1.9% (Prev: -0.8%) Westpac Read more…
Eurozone sees marginal improvement in surveys US services cool in February EURUSD breaks through descending channel The PMI surveys have certainly made it an eventful day in the markets, albeit one that doesn’t necessarily provide Read more…