Welcome to Extreme Investor Network, your go-to source for all things related to the stock market, trading, and Wall Street. Today, we are diving into the latest updates from the Reserve Bank of New Zealand (RBNZ) and the upcoming data releases in the UK that could impact the markets.
In the recent RBNZ meeting, the OCR remained unchanged for the eighth consecutive time, reflecting the committee’s confidence in the disinflation process. With inflation cooling to +3.3% in Q2 2024 and unemployment at 4.6%, all eyes are on the central bank’s decision this week. A hold decision could support the NZD, while a rate cut may weigh on the currency, especially if there are hints of further rate cuts in the future.
Turning our attention to the UK, inflation and wage figures will take the spotlight this week following the BoE’s rate cut in August. Headline CPI inflation is expected to rise to +2.3% in July, with services inflation and wage growth remaining key indicators to watch. Any significant downside surprises in the UK data could lead to a decline in the GBP against G10 peers as the market starts pricing in the possibility of a rate reduction at the next BoE meeting.
In addition to these events, keep an eye on preliminary UK GDP for Q2 and retail sales numbers for further insights into the economic landscape. Stay tuned for more updates and analysis on Extreme Investor Network to stay ahead of the curve in your investing journey.