US backs away in Hormuz after achieving nothing
Shutterstock Track 1219389
Monetization ID TFGEPGEI0LHEIJAI
Kia ora.
Welcome to Tuesday’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.
Today we lead with news Iran is claiming control of the Strait of Hormuz as the US backs away, unable to exert the pressure it thought it could. The pause in fighting there has calmed markets significantly even if few ships are actually transiting.
Elsewhere, the US durable goods order report for June was a strong one, up +8.9% from…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.