Let’s have a look at our global markets today.
Slightly disappointing US data released yesterday, Gross Domestic Product for the fourth quarter was down to 2.3 percent versus 2.4 percent forecast. The new Federal Chair will deliver another statement today.
Closer to home, New Zealand’s Terms of Trade hit a new all-time higher in Quarter 4 at 0.8 percent. It is positive in terms of national incomes and the economy’s overall purchasing power.
New Zealand export prices rose to 4.9 percent after gains were seen in dairy, meat, forestry and aluminium while import prices rose to 4.0 percent %.
Upcoming for today is US Manufacturing and Personal consumption figures. Will see how the data reacts to the currency against FJD basket.
And that’s all for now…..Vinaka