Global markets take the White House clash in their stride. Tariff deadlines are more in focus, boosting the US dollar, in particular vs the Canadian dollar. Australian lending growth softens, and New Zealand consumer confidence remains subdued.
In our bonus deep dive interview, ANZ Economist Henry Russell analyses how New Zealand’s housing market has started 2025.
5 things to know in 5 minutes:
The US dollar remains firm, thanks to ongoing inflation fears linked to Trump’s tariffs, and safe-haven buying. ANZ Head of FX Research Mahjabeen Zaman says looming tariff deadlines will keep upward pressure on the US dollar.
Mahjabeen says the Canadian dollar is one to watch this week ahead of Tuesday’s deadline for 25% tariffs on US imports of Canadian goods.
Tokyo headline inflation was a touch weaker than expected in February and Japan’s industrial production fell, but retail sales rose 0.5%. However, ANZ FX analyst Felix Ryan says the underlying inflation story remains robust
Australia private sector credit growth softened in the month of January to 0.6% from 0.5% in December, which met expectations, says ANZ Australia economist Maddy Dunk.
ANZ New Zealand’s Roy Morgan Consumer Confidence survey results for February showed a marginal improvement from January, but they remain at very subdued levels, says ANZ New Zealand Chief Economist Sharon Zollner.
Cheers,
Bernard
PS: Catch you tomorrow with a preview of China’s 14th National Peoples Congress in Beijing on Wednesday.
