Market Overview
Worldwide coronavirus cases surpass 260.178 million with over 5.197 million official deaths.
New Zealand has 5710 active cases of coronavirus with 185 new cases today and 0 deaths. Meanwhile, the Australian State of New South Wales reported 150 new cases and 0 deaths yesterday with Victoria reporting 1061 new cases with 4 deaths
Federal Reserve chairman Powell says higher inflation will “linger” well into the New Year pushing up pandemic related supply demand
US Military raises alert to DEFCON 4
Early evidence of the new covid variant Omicron shows risks are high and that future outbreaks of the variant could hold severe consequences
The JPY is the strongest currency heading into Tuesday and the New Zealand Dollar is the weakest on the main board
Major Announcements last week:
RBNZ official Cash Rate is hiked by 25 points to 0.75%
US Prelim GDP q/q 2.1% vs 2.2% predicted
US Bank Holiday Thursday celebrating Thanksgiving created thin market trading conditions
US Pending Home Sales November prints at 7.5% after being down -2.3% in October