New Zealand Morning Focus

ANZ provides a global market overview ahead of today's critical RBNZ Monetary Policy Statement. While US markets showed a positive catch-up tone, Middle East tensions and weakening US data have introduced caution.

Key Takeaways

• 1.The RBNZ is expected to hold the OCR at 2.25% today, but may release a more hawkish OCR track than previous estimates.
• 2.US and UK markets initially reacted positively to Middle East developments, but European markets reversed gains following reports of military strikes between the US and Iran.
• 3.US consumer confidence and non-manufacturing activity indices both showed declines in May, signaling potential economic softening.

Table of Contents

• Highlights
• Data and events today
• Financial markets
• Global markets overview
• Key data and events
• Key themes and views
• Important Notice

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