Market Overview
Key Points:
- Data out Monday has shown NZ jobs fell 0.3% in the month of February as Omicron case numbers exploded. Omicron uncertainty is expected to hampen growth over the coming months as employment will struggles to grow.
- Australian Business confidence drops 5 points to 114
- The US Treasury 5-30 year yield curve inverts for the first time since 2006
- Russian and Ukraine officials are expected to hold talks in Turkey as Ukrainian military claims that Russian troops have withdrawn from the border of Kyiv after taking heavy losses
- USD/JPY hits 125.00 just shy of the 125.80 decade high
- Australian weekly consumer confidence falls to 91.1 from 91.2
- The Australian Federal Budget is announced tonight at 7.30pm SYD time
- Tesla has halted production in Shanghai due to staggered lockdowns
- US President Biden’s comments about Putin cause warnings and could raise the stakes this week
Major Announcements last week:
- UK CPI y/y 6.2%, forecast 6.0%
- German Manufacturing PMI 55.0 vs 53.6
- US Flash Manufacturing 58.5 vs 56.6
- UK Retail Sales -0.3% in February vs 56.0 predicted
- US Unemplyment Claims- 187,000 vs 210,000 expected