NAB – The Morning Call · NZ GDP, Aussie employment both punch the lights out, but currencies fall
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NZ GDP, Aussie employment both punch the lights out, but currencies fall

Friday 18th June 2021

The US dollar continued to rise yesterday, after the hawkish comments from the Fed. As David de Garis discusses on today’s podcast, it’s impetus was enough to squash any positive currency response to Australia’s employment numbers and New Zealand’s GDP read yesterday, both of which were way higher than anticipated. And yet Philip Lowe continued to set the expectation that Australian rates wouldn’t rise until 2024. The road to recovery isn’t straight forward though, with US unemployment claims rising last week and Britain’s infection rate rising sharply, despite the vaccines. UK retail sales will garner a bit of attention today.

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