With respect to the NZ economy, Greg Gibbs, Founder, Analyst, & PM at Amplifying Global FX Capital Pty Ltd, an Australian financial services company explained that Q2 was a good quarter after a lacklustre three quarters.
Key Quotes:
“Government spending is starting to kick in and may help support the economy, but business activity and consumer confidence surveys suggest growth will sag through the rest of the year. The RBNZ is likely to retain a neutral policy message in its statement next week, waiting for clearer evidence on the economy from Q3 labour and inflation reports. The ANZ business activity survey next week may be important for near-term sentiment. NZD gathered momentum from the GDP report and a broad rebound in global assets. The market continues to seek a big-picture top in the USD, but rising US inflation and tariff policy remain key supports for the USD.”
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