Market Overview
- Risk currencies continue to push higher on monetary policy divergence.
- The US economy grew by 3% y/y (GDP) in the second quarter 2024.
- The Bank of Japan (BoJ) offered no surprises at their minutes signalling more hikes on the radar.
- NZ Consumer Confidence rose from 92.2 to 95.1 in September.
- US jobless claims increased less than predicted last week, the unemployed rising 218,000 vs 224,000 up from 222,000 last week.
- Crude Oil falls sharply as Saudi look to increase supply.
- ECB President Lagarde speaking Monday said: Rates will be kept sufficiently restrictive for as long as necessary- “looking ahead the suppressed level of some survey indicators suggests that the recovery is facing headwinds.”
- The Australian Dollar (AUD) was the best performing currency over the month of September while the Canadian Dollar (CAD) has been the worst performer.