Page 49 - Alan Oster News Today : Breaking News, Live Updates & Top Stories | Vimarsana

New Zealand Dollar dropped broadly in Asian session today after a lower-than-expected consumer inflation reading increased speculation that the next RBNZ rate hike may be the last in the current cycle. This development also pulled Australian Dollar down, making them the day's worst performers so far. In contrast, Swiss Franc and Euro are trading higher, followed by US Dollar and Japanese Yen, suggesting that the markets are not in a risk-on mood. British Pound and Canadian Dollar are currently mixed.

Australia NAB Quarterly Business Confidence dropped from -1 to -4 in Q1. Current Business Conditions fell from 20 to 16. Business Conditions for the next three months decreased from 22 to 19. But Business Conditions for the next 12 months rose from 18 to 20.

Swiss Franc is currently the strongest performer for the day, showing a notable gain the Euro. Japanese Yen and Australian Dollar follow closely, indicating that the market moves are not predominantly driven by risk aversion. In contrast, New Zealand Dollar is the weakest, as lower-than-expected inflation data increases hopes that RBNZ is nearing a pause in its rate hikes. The Canadian Dollar is the second-worst currency for the day, as it trails falling oil prices. Dollar is on the softer side, as it follows declining Treasury yields. Euro is mixed, seemingly unaffected by comments from ECB o...

National Australia Bank is now expecting a rebound in Sydney and Melbourne property prices in 2024, because of record-high immigration and a very tight rental vacancy market.

Just when the economy looks to be heading into that ‘just right’ zone, along comes a strong employment report that might spell another rate rise is on its way.