WTI Crude Oil Faces Resistance: Can Recovery Take Hold?

GDP contracted by 0.1% in the December quarter, slightly softer than Westpac and RBNZ estimates. Key results Quarterly change: -0.1% (last: -0.3%, Westpac f/c: 0.0%, market f/c: 0.1%, RBNZ 0.0%) Annual change: -0.3% (Last -0.6%, Westpac f/c 0.0%, RBNZ 0.0%) Annual average change: +0.6% (Last: +1.3%) The New Zealand economy was broadly flat over the […]

Markets Global bonds trading took a slow start after a long weekend in the US and the UK. Yields initially lost a few basis points. However, US Treasuries were hit by a triple whammy as the US session preceded. Mid-morning in the US, Fed’s Kashkari confirmed the more hawkish tone from last week’s Fed Minutes. […]

While the past week has been a quiet one on the macro data front, central bankers sent some hawkish signals ahead of the January rate decisions. The Fed’s Waller remained confident that sustainable 2% inflation is within ‘striking distance’, but he also underscored that there is no reason to cut rates as quickly as in […]