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Down 26% y/y.Comments from Stats NZ:“April 2023 marks the third consecutive month that the number of homes consented has been down by more than 25 percent when compared with the same month of the previous year,” construction and property statistics manager Michael...

Goldman Sachs analysts cited in a media piece (gated):“Confidence is a big problem” “For consumers, there are concerns about the future — you don’t really want to spend. Private investment is also very weak. You talk to entrepreneurs, there is still a reluctance to...

Markets:AUD leads, EUR lagsWTI crude oil up 37-cents to $73.04US bond market closedUS equities closedCanada TSX Comp +0.3%Gold down $3 to $1942It was a holiday in the US and UK so it was predictably quiet, especially after Europe went home.Selling the dollar was the...

The US requested a meeting in Singapore. Secretary of Defense Lloyd Austin wanted to meet with his Chinese counterparts this week. China said "Nope"The Pentagon's response is that the refusal is 'concerning'. -Last week the two Commerce ministers met. There are...

There is not a lot on the data agenda to move around FX too much. This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The numbers in the right-most column are the 'prior' (previous month/quarter as the...

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...

Oil sank earlier, dragging the Canadian dollar with it but it's since bounced back into positive territory. It started strong and rose to a high of $73.55 then faded all the way to $72.04 in early North American trade. However int he past few hours it trended higher...

With the UK and US closed it was a bit quieter but the main thrust of trading was a 'sell the fact' on the US debt ceiling and ongoing economic concerns.Stoxx 600 -0.1%German DAX -0.2%French CAC -0.3%Italy MIB -0.4%Spain IBEX -0.1%The gap higher in the DAX at the...

Oil started the week higher on the debt ceiling deal and signs of strong Asia imports but it's since turned negative. The slide in oil has spilled into Canadian dollar trading, despite thin market conditions due to the US holiday. That's led to a rise in USD/CAD to...

The debt ceiling agreement led to a brief flurry of trading early in the day but much of that has now faded. It is surprising to see USD/JPY 35 pips lower because the flood of Treasury issuance should presumably push yields higher but that may already have been priced...

Headlines:Markets:AUD leads, EUR lags on the dayEuropean equities slightly lower; S&P 500 futures up 0.2%Gold down 0.1% to $1,945.17WTI crude down 0.2% to $72.51Bitcoin up 4.2% to $27,885It was a quiet session in Europe as it is a bank holiday and UK markets are...

It is a bit of a surprise announcement as the general election would already be due in December. The Sunday votes were a bit of a litmus test for Sánchez and the outcome was a resounding failure for him as the conservative People's party saw massive gains across the...

US non-farm payrollsThe data will be one to validate or invalidate the prevailing market sentiment, and that is currently one where traders are walking back on dovish Fed expectations since the banking crisis. As you can see from the pricing in the Fed funds futures...