Risk-off as investors realise they may have overdone it
Kia ora,
Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.
I'm David Chaston and this is the international edition from Interest.co.nz.
And today we lead with of leaking economic signals everywhere we look today. And the NZD is in retreat as the mood sours on commodity currencies, and Wall Street follows.
First, the overnight full dairy auction brought lower prices yet again, down -2.4% in USD terms this time, down -1.0% in NZD terms. Butter (-4.3%) and cheddar cheese (-6.6%) were the big deliners this time, but the key WMP…
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