It was a relatively quiet start to the morning on the Asian economic calendar. However, NZ business confidence figures drew interest.
The ANZ Business Confidence Index slipped from -43.4 to -43.8 in April. Economists forecast an increase to -41.0.
According to the latest ANZ Report,
- Inflation indicators fell further in April, with the Inflation Expectations falling from 5.82% to 5.70%, the lowest since Mar-2022.
- Other inflation components also eased expectations of another hawkish RBNZ rate hike. The Pricing Intentions component fell from 56.8 to 53.7, with the cost expectations component down from 86.4 to 84.2.
- However, wage expectations increased from 83.6 to 87.2.
Following the disappointing trade…
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