NZ May credit card spending +3.3% compared with expectations of +13.9%, recession taking a hold.
Chinese Lifong was out on the wires yesterday talking up the Chinese economy- “the economy has recovered and turned for the better” – hmmm.
Yellen has said the chances of a Eurozone recession has eased but risk remain.
The Bank of England hikes interest rates 50 points to 5.00% with predictions of two more to come.
Japan’s economy is recovering at a moderate pace with employment improving and business activity on the rise.
The Euro (EUR) has been the strongest performer this week with the Australian Dollar (AUD) the worst performer.