The S&P 500 starts the week at a fresh record high of just over 5,000 and ANZ Research has changed its call for the RBNZ’s OCR to two more hikes to 6%.
In our bonus deep dive interview, ANZ’s New Zealand Chief Economist Sharon Zollner explains the call change and how the RBNZ has set precedents before.
5 things to know
The S&P 500 finished last week up at 5,026.61, its first close over 5,000. The global markets will focus this week on US CPI data on Tuesday night, says ANZ Group Chief Economist Richard Yetsenga.
The Kiwi dollar rose to 94.25 Australian cents late on Friday after ANZ Research changed its OCR call to two more hikes to 6%. The Kiwi rose to 61.48 USc. The Aussie dollar was at 65.25 USc at 4am Sydney/Melbourne time.
Chinese money supply and lending figures show consumers remain more focused on saving than borrowing, says Richard.
The RBA will watch Australian jobs figures on Thursday closely, says Richard.
Markets in Southeast Asia are on tenterhooks ahead of Indonesian elections on Wednesday, says ANZ Senior Rates Strategist Jennifer Kusuma.
Cheers
Bernard
PS: Look out tomorrow for a deep dive interview with Jennifer on Indonesia’s elections and what to watch for.
