Gold finally jumps through US$3,000 an ounce. US consumer confidence about jobs and inflation slumps. New Zealand’s GDP data is expected to show growth returned in the December quarter. And the Fed is expected to hold later this week.
In our bonus deep dive interview, ANZ Group Chief Economist Richard Yetsenga analyses how all the Trump tariff turmoil is affecting global markets and the US economy.
5 things to know in 5 minutes:
Gold rose through US$3,000/oz for the first time on Friday and got to a high of US$3,017.11/oz. Drama in geopolitics and financial markets is making gold a safe haven, says ANZ Head of FX Strategy Mahjabeen Zaman.
US consumer confidence slumped in March, with the outlook for jobs the worst since the GFC and long-run inflation expectations the highest in 32 years, says ANZ Head of G3 Economics Brian Martin.
The BusinessNZ-BNZ PMI survey of manufacturing found a bounce well into expansionary territory in February, says ANZ Economist Henry Russell.
The big event on global markets this week will be the Federal Open Markets Committee decision on Thursday morning Sydney/Melbourne time, says Mahjabeen.
Richard expects a bounce in New Zealand GDP to be reported on Thursday.
Cheers,
Bernard
PS: Catch you tomorrow with an update on the latest numbers from China’s economy.
