Market Overview:
Key Points:
• The New Zealand Dollar has fallen sharply this year against a basket of currencies underperforming against its peers.
• The Bank of England is predicted to hold rates unchanged at 5.25% at their next meeting.
• Economists are becoming more assured that the US economy will avoid falling into a recession this year.
• The ECB are predicted to cut their interest rates earlier than expected as soon as June this year.
• The Bank of Canada is expected to leave their interest rate unchanged later this week at 5.0% since hiking it 0.25% last June.
• Israeli prime minister Netanyahu has rejected a deal for the complete withdrawal of Israelis from the Gaza territory and to end the war.
• The British Pound (GBP) has been the strongest currency in 2024 while the weakest currency has been the Japanese Yen (JPY)