Morning Update: FX, Central Bank Recaps, and US Equity Forecasts

Goldman Sachs has raised its year-end S&P 500 target to 8000, while highlighting a hawkish pivot from the RBNZ and a dovish signals from the NBH. Market preference remains skewed toward tech-exposed North Asian equities.

Key Takeaways

• 1.GS has raised its year-end S&P 500 target to 8000 from 7600, driven by exceptionally strong Q1 earnings and AI infrastructure investment.
• 2.The RBNZ maintained rates at 2.25% but delivered a hawkish pivot, indicating that the OCR may need to increase sooner than previously expected.
• 3.The NBH kept rates unchanged at 6.25% but provided dovish guidance, signaling a potential rate cut in June as inflation outlooks improve.

Table of Contents

• 1) FX Trader Call Today @ 2:00 PM LDN
• 2) RBNZ and AUD CPI Recaps
• 3) NBH Recap
• 4) US EQUITY STRATEGY (SNIDER) – Revised US Equity Forecasts
• 5) ASIA ECONOMICS (TILTON) – Asia Views: Hope is Not a Strategy

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