China stocks underwhelmed as markets opened after the Lunar New Year. The US dollar is expected to be strong through the first quarter. ANZ Research looks at a scenario for a 7% OCR in New Zealand. Thailand’s economy grew less than expected.
In our bonus deep dive interview, ANZ’s Senior Commodities Strategist Daniel Hynes explains why oil prices haven’t spiked much, despite widening conflicts in the Middle East.
5 things to know:
China’s CSI 300 index rose just 1.2% yesterday despite a jump in Lunar New Year spending and support from authorities ahead of the holiday. More official support moves are expected.
The US dollar should maintain its recent strength over the first quarter, due to firm economic data, says ANZ’s Head of FX Research Mahjabeen Zaman.
However, the Aussie and Kiwi dollars are holding up well, Mahjabeen says.
ANZ NZ Senior Economist Miles Workman details a scenario where the RBNZ could raise the OCR to 7%. ANZ Research’s central forecast is for a rise to 6% from 5.5%.
Thailand’s GDP was weaker than expected in Q4 on Government spending delays, says ANZ Economist Krystal Tan.
Cheers
Bernard
PS: Catch you tomorrow with a preview of the Australian wages data due Wednesday.
