Key Points:
Global trade fell for the 3rd straight month in September a sure sign of the global economy slowing as high energy prices and rising interest costs knock back business and consumer spending capacity
NZ Retail Sales Q3 +0.4% vs 0.5% expected – prior -2.3%
NZ Consumer Confidence for November prints at 80.7 previous 85.4 as confidence slips further pessimistic
Both Australia and New Zealand’s housing markets continue to tank, Australia’s medium house price fell 1.2% in October while NZ is -10.9% lower year on year.
China daily covid numbers rise to 29,700, the biggest daily number of the pandemic
The British Pound (GBP) is the strongest currency this week while the US Dollar (USD) was the worst performer.