Key Points:
Risk off currency flows continue into Thursday.
The US Consumer Confidence Index falls from 104 to 101 compared to consensus of 104 as economic expectations dropped.
New Zealand Credit Card spending eased from 25.5% y/y to 20.3% in the month of March.
Australian Inflation falls from 7.8% year on year to 7.0% in the first quarter of 2023.
US GDP first quarter is now forecast to come in at -1.1%
German consumer confidence improved from -29.3 to -25.7 on better income expectations in April.
Singapore has doubled the stamp duty on foreign buyers buying real estate to cool the market.
The ECB’s Herodotou has said the high ECB bank rates are beginning to impact the economy.
The Euro (EUR) has been the strongest performer this week with the Australian Dollar (AUD) underperforming and the weakest of the main board.