New Zealand dollar to a fresh four year low with this latest
The data from NZ have been on the ugly side today:
- Here's a sub-60 US cent NZ dollar forecast
- NZD traders - take note of the poor NZIER data - prompts another bank to slash its RBNZ cash rate forecast
- NZ data (NZIER QSBO) just out is prompting forecasts for a near term RBNZ rate cut
- NZ data - quarterly business survey. Business confidence -35% (prior -34%)
From Australia its been more mixed. the permits data highlights continued residential construction, this sector should experience slower activity for the next two years at least based on the ongoing slump in approvals (highlighted below)
- Moody's expect Australian mortgage delinquencies will continue to rise over 2019
- Australia Building permits for August: -1.1% m/m (expected 2.0%)
- Australia CoreLogic house prices for September: +1.1% m/m (prior +1.0%)
- Australia - ANZ Roy Morgan Weekly Consumer Confidence: 114.7 (prior 110.1)
- Australia CBA/Markit Manufacturing PMI for September, final: 50.3 (prior 50.9)
- Australia - AiG Manufacturing PMI (September): 54.7 (prior 53.1)
NZD:
ps. This chart is free from this link. You can play around with charts there, get a long term one to see the 4 year low if you wish.
