New Zealand Morning Focus

Global markets rallied as tensions in the Middle East appeared to ease, driving Brent crude back below $100/bbl. In New Zealand, focus shifts to the RBNZ meeting and the upcoming government budget.

Key Takeaways

• 1.De-escalation signals in the Middle East, specifically reports of progressing talks to reopen the Strait of Hormuz, have significantly lowered oil prices.
• 2.New Zealand markets are focused on the upcoming RBNZ Monetary Policy Statement and the National Budget, with the NZD/AUD cross under pressure.
• 3.Despite the potential easing of energy supply shocks, ANZ argues that central bank rate hikes remain likely as underlying inflation pressures persist.

Table of Contents

• Highlights
• Data and events today
• Financial markets
• Global markets overview
• Key data and events
• Key themes and views
• Important Notice

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial