5 in 5 with ANZ ANZ

US bond yields fell after Fed Chair Jerome Powell appeared to rule out rate hikes. Japanese authorities may have intervened again to hold up the yen. South Korean and Indonesian inflation eases. Australia’s record imports suggest demand is holding up.
In our bonus deep dive interview, ANZ Agriculture Economist Susan Kilsby looks at how global economic developments, and the weather, are affecting demand for New Zealand’s key primary exports. 

Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The US Federal Reserve has kept rates on hold and signaled a lack of progress towards its 2% inflation goal in recent months. New Zealand’s labour market weakens, but wage growth is still high. The copper price has been on a roll in 2024.
In our bonus deep dive interview, ANZ Economist Arindam Chakraborty looks at how non-China Asia exports have been supported this year by strong US demand. 

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Stronger US wage data adds to fears rates will be on hold for longer. Core inflation progress in Europe supports a June cut by the ECB. China’s factory output rises. Weak Australian retail sales cause a rethink on the RBA’s rate track.
In our bonus deep dive interview ANZ Economist Miles Workman looks closely at why consumers in New Zealand are so down in the dumps.

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The yen bounces hard after slumping through 160. Some think Japan’s authorities intervened, but there’s no confirmation. ANZ Research has changed its expectation for Fed rate cuts this year to two 25 basis point cuts from four.
In our bonus deep dive interview, ANZ Head of Australian Economics Adam Boyton looks at how the RBA might react if Australia’s stage 3 tax cuts improve consumer confidence, which is now near 1990s-recession level lows. 

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The US dollar has spiked up over 158 yen. Traders are on high alert for intervention by Japanese authorities. Market expectations for rate cuts by the Fed and RBA keep being pushed out. New Zealand consumer confidence falls again
In our bonus deep dive interview, ANZ Head of Australian Economics Adam Boyton looks at why Australian consumer confidence is at 1990s-style recession-level lows and when it might pick up. 

Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US stocks fell and US Treasury yields rose after US growth and inflation data was worse than expected. Australia’s strong CPI could shift the RBA’s rate cut track out. Indonesia hikes rates to bolster its currency and South Korea’s GDP beats forecasts.
In our bonus deep dive interview, ANZ Chief Economist for Southeast Asia and India, Sanjay Mathur looks at what central banks across Asia face in terms of monetary policy and their currencies if the US Fed delays rate cuts.

Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/