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Shutterstock Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news of more Trump flip-flops in haphazard moves that show Trump has no strategy or exit plan from the mess he created in the Middle East. But first, there was a Pulse dairy auction overnight and prices mostly dipped from last week's full event. Both butter and SMP dipped -0.4%, but the exception was WMP which rose +0.3%. The recently higher NZD has made those changes less in local currency, reinforcing the Fonterra payout reduction. Elsewhere, the US released its June CPI result with a somewhat surprising dip with it falling to 3.5% after May's three year high 4.2%. Markets had expected a lesser dip to 3.8%. The biggest retreat was the -9.7% fall in petrol prices (although this monitoring only recorded a +6.8% fall). Inflation was on the mind of Fed speakers overnight, especially Kevin Warsh, who reiterated his commitment to fighting inflation saying he had "no tolerance for persistently elevated inflation". But he had no details or plans on how he is to tackle inflation. He was presenting the Fed's semi-annual Monetary Policy Report to Congress. The Fed's target is inflation at 2% and it has been above that for 63 consecutive months now, so the credibility of achieving that target is not high. The ADP weekly private jobs monitoring fell again, now under +20,000 and the first time it has reported a gain that low since mid-March. It has been tracking lower since early May. The lower fuel costs shifted the needle in the NFIB sentiment survey for SMEs, resulting in a less-negative June result. But these same respondents cited inflation as their biggest threat, the highest since October 2024. Yesterday, big US banks reported strong earnings gains, helped by their role in the Big Tech IPOs and other tech fundraising. Singapore said its economic activity was +5.7% higher in Q2-2026 than in the same quarter in 2025. While this was a bit less than the +6.3% first quarter result, it was above the expected +5.5% outcome. China said its June exports were up a remarkable +27% from the same month a year ago, driven by US companies stockpiling ahead of the expected inflationary effects of upcoming producer price inflation from the Middle East shocks, and by China's push to export cars, and far more than the +18% expected. It also said its imports were +36% higher than a year ago, driven by crude oil imports. That all meant that it had a near record trade surplus of +US$126 bln in June, only exceeded by the January 2025 +US$136 bln in that month. In Australia, the Westpac-MI consumer sentiment survey became less pessimistic in July, mainly because their fuel price pressures eased - and their interest rate fears moderated as well. Job loss concerns eased too. But consumers remained gloomy about the economy overall and that meant they don't think now is a good time to buy a major appliance. And, although it recovered somewhat from very low levels, Aussies are still very uncertain where their housing market is going. The story was quite similar for business sentiment in July as reported by the NAB survey. However, this one reported a sharper-than-expected improvement even if it is still negative. Price pressures also moderated, with input price growth slowing to its weakest pace since February and retail prices falling for the first time in seven years. The UST 10yr yield is now just on 4.57%, down -4 bps from this time yesterday. The price of gold has risen to US$4059/oz, up +US$66/oz from yesterday. Silver is now just under US$59/oz, up +US$1.50 from yesterday. Oil prices are up +US$1.5o from yesterday at just on US$78.50/bbl in the US, while the international Brent price is now just over US$84/bbl and up +US$2. Hormuz transits have essentially dried up as the hot conflict explodes again and Iran declaring the Strait 'closed'. There have been just 3 crude tankers and 7 cargo ships exiting over the past 24 hours and all of those tied to Iran (1 dark with transponders off) but only 9 entering for new loads, all Iran-linked (1 dark). No-one was prepared to pay Trump's tolls, so Trump backed down (in a weird rambling announcement), less than 24 hours after announcing the levies. It is unknown if any are paying Iran's tolls. Plans to build pipelines to avoid the area are getting new momentum now. So Iran is shifting its focus to blockading the Red Sea at Yemen. The Kiwi dollar is up +50 bps from yesterday at just over 58.1 USc. Against the Aussie we are up +20 bps at 83.3 AUc. Against the euro we are up +40 bps at just on 50.9 euro cents. That all means our TWI-5 starts today at just on 62 which is up +50 bps from this time yesterday. The bitcoin price starts today at US$64,477 and up +4.1% from this time yesterday. Volatility over the past 24 hours has been moderate at just under +/- 2.5%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

The US and Iran exchanged strikes over the weekend, with the US military targeting 140 Iranian military targets on Saturday and took further action on Sunday, while Iran attacked US bases across the Gulf and closed the Strait of Hormuz.Iran's Foreign Ministry spokesperson said the US violated all clauses of the MoU in less than a month and stated that Iran will not execute commitments in the MoU as long as the US is not fulfilling its commitments. Furthermore, the spokesperson said mediators are still continuing their efforts to mediate between Iran and the US in recent days and Iran is in contact with mediators. Energy benchmarks pulled back following the constructive rhetoric, Brent +2.3%.US equity futures are off worst levels but the NQ is the clear underperformer, weighed down by the losses in SK Hynix (-15.4%).DXY reverse earlier gains; JPY hit on GPIF chatter, NZD continues to benefit on tightening bets.Looking ahead, highlights include OPEC MOMR (Jul), US Monthly Budget Statement (Jun), Coalition of the Willing Summit, Speakers including Fed's Waller, BoE's Pill, ECB's Schnabel & RBNZ's Conway.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Mediators are working to get the US and Iran back at the negotiating table, CNN reported, citing sources, later echoed by Axios.Brent is softer by around USD 0.20/bbl, with the market essentially waiting for a resumption of negotiations or strikes.Japanese assets lead after Finance Minister Katayama said pension funds should be encouraged to invest more in the domestic market.European bourses are on a modestly firmer footing, Euro Stoxx 50 +0.1%. US futures are mixed; NQ lags, potentially ahead of SK Hynix's ADR debut on the 13th.USD under pressure, JPY leads given the above, NZD continues to climb, CAD flat into its jobs report.Looking ahead, highlights include Canadian Jobs Report (Jun). Earnings from Delta Air Lines and Credit Ratings from Fitch on the Netherlands, Morningstar DBRS on Switzerland and Scope Ratings on Japan.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US struck around 90 Iranian military targets. In return, the IRGC said it attacked two US bases in Bahrain and two in Kuwait.CNN reports that US President Trump is losing patience with the pace of negotiations, particularly on nuclear.Energy benchmarks modestly bid, but in relatively narrow ranges; downside seen in the early European morning as Trump reiterates that Iran wants to make a deal.APAC trade was initially resilient to the above, before then reversing as the night progressed.FOMC Minutes outlined that a few saw a case for raising rates, several did not see the stance as restrictive, a few as slightly restrictive.NZD continues to lead the FX space, USD is under modest pressure. Fixed rangebound, taking direction from energy.Looking ahead, highlights include German Trade Balance (May), US Initial Jobless Claims (Jul/04), Existing Home Sales (Jun), ECB Minutes (Jun), Banxico Minutes (Jun), Speakers include Fed's Williams, Logan, BoE's Breeden, Supply from the US and Earnings from PepsiCo.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US struck around 90 Iranian military targets. In return, the IRGC said it attacked two US bases in Bahrain and two in Kuwait.CNN reports that US President Trump is losing patience with the pace of negotiations, particularly on nuclear.Energy benchmarks modestly bid, but in relatively narrow ranges; downside seen in the early European morning as Trump reiterates that Iran wants to make a deal.APAC trade was initially resilient to the above, before then reversing as the night progressed.FOMC Minutes outlined that a few saw a case for raising rates, several did not see the stance as restrictive, a few as slightly restrictive.NZD continues to lead the FX space, USD is under modest pressure. Fixed rangebound, taking direction from energy.Looking ahead, highlights include German Trade Balance (May), US Initial Jobless Claims (Jul/04), Existing Home Sales (Jun), ECB Minutes (Jun), Banxico Minutes (Jun), Speakers include Fed's Williams, Logan, BoE's Breeden, Supply from the US and Earnings from PepsiCo.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said the Iran ceasefire is over, "I think", lifting Brent above USD 79/bbl, weighing on equities and fixed income.However, Trump did add he will allow US negotiators to continue talking with Iran, but said, "I think this is a waste of time"Euro Stoxx 50 -2.2%, ES -1.0%, NQ -1.4% given the above. Mixed APAC trade, but China was in the green after updates relating to DeepSeek and Zhiphu.Apple signed an agreement with Broadcom, to design and produce custom silicon components and wireless technologies, deal expected to exceed USD 30bln.NZD outperforms after the RBNZ hiked and signalled further increases "appear likely". Elsewhere, CAD bid on energy moves while JPY slips as a result of its import dependence and yield moves.Looking ahead, US Atlanta Fed GDP (Q2), NBP Policy Announcement (Jul), NBH Minutes (Jun), Fed Minutes (Jun), NATO Ankara Summit, Speakers include US President Trump, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Shutterstock Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news renewed Hormuz attacks are raising oil prices and interest rates today, not helped by a pullback in tech stocks. But first today, there was another dairy auction overnight, a full one with new season volumes returning. But this one came in sharply lower, down -4.9% on USD terms although only a -2.5% retreat in NZD terms. Among the results, there was a notable -4.4% fall for WMP, a -7.0% fall for SMP, a -5% fall for butter and a large -12.3% fall for cheddar cheese. A few of the minor categories gained. But these falls were larger than the futures market was pricing in, so you have to say they are 'larger than expected'. While the new lower levels aren't that special in a longer perspective, the speed of the falls is concerning and analysts will be re-assessing their payout forecasts. In the US, the RealClearMarkets/TIPP Economic Optimism Index rose in July to a better than expected level but it is still well below the average over the past year and below its long term norm. Meanwhile, American consumer inflation expectations rose when a small dip was anticipated. It is now at 3.7%, its highest since September 2023 and is rising even though expectations for lower petrol prices are included in these results. The weekly private jobs growth monitoring by ADP shows a smaller rise ;last week than they have recorded in the past 15 week, since mid-March in fact. And the trend has been down for seven straight weeks. This is consistent with the easing that the official non-farm payrolls report showed for June. The US Logistics Managers Index rose again in June and to its highest since March 2022, driven by three factors; anticipation of more tariff action from Trump, stockpiling to get ahead of inflation, and an expectation that the end of year retail season will be 'normal'. US exports weakened in May and imports rose in the same time in the broader trade result that includes both goods and services, delivering a sharp rise in their deficit and their highest in over a year. This result matched the recent report of merchandise trade but brings their services trade into the picture. Meanwhile Canada reported rising exports and stable imports to give them a larger trade surplus in May. China said its foreign exchange reserves dipped slightly in June from their unusually high May levels. Part of this was due to the retreat in the gold price. But their central bank continued its gold-buying streak for a 20th month, with reserves reaching 75.44 million troy ounces by June's end, up from 74.96 million in May. China's excavator sales are rebounding, up by more than a third in June from a year ago, driven by major projects. New data out yesterday paints a much improved picture for Japanese household spending in May as households started to get their mojo back. And don't overlook that this was in the middle of the Trump Gulf War uncertainties. The UST 10yr yield is now just on 4.54%, up +6 bps from this time yesterday. The price of gold has slipped to US$4146/oz, down -US$13/oz from yesterday. Silver is now under US$61/oz, down -US$1.50 from yesterday. Oil prices are up +US$2 from yesterday at just under US$70.50/bbl in the US, while the international Brent price is now just on US$74/bbl. Hormuz transits have picked up sharply despite renewed uncertainties with 27 crude or product tankers exiting over the past 24 hours (4 dark with transponders off) but only 18 entering for new loads (4 dark). Interestingly. All this comes as attacks on ships in transit become daily events, so the rise in oil prices isn't surprising. Red Sea activity near Yemen has fallen again to even lower levels on added risks there too. The Kiwi dollar is down -10 bps from this time yesterday at just on 56.9 USc. Against the Aussie we are little-changed at 82 AUc. Against the euro we are also little-changed at just on 49.8 euro cents. That all means our TWI-5 starts today at just on 60.7 which is down -10 bps from this time yesterday. The bitcoin price starts today at US$64,063 and up +0.8% from this time yesterday. Volatility over the past 24 hours has been modest at just under +/- 1.3%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

1. HEART OF THE MATTER 1A. Record-Breaking Missionary Numbers — Pres. Oaks at New Mission Leader Seminar At the 2026 Seminar for New Mission Leaders (June 18–21, Provo MTC), President Dallin H. Oaks announced that the Church will soon have the largest number of full-time missionaries in its history, surpassing the current 87,000+ serving worldwide. The surge is driven by the first wave of 18-year-old sister missionaries (following the November policy change lowering the minimum age from 19) and the addition of 55 new missions in July, bringing the global total to 506. President Oaks outlined three characteristics defining the restored Church: (1) the fulness of doctrine (including eternal marriage between a man and a woman); (2) priesthood authority and keys; and (3) a unique testimony of Christ grounded in modern revelation and the First Vision. Sister Kristin Oaks also spoke, sharing six core truths missionaries teach. Source: Church Newsroom, June 20, 2026 Note: Strong potential for discussion on what ‘only true and living church’ means in a pluralistic world — Richie angle? 1B. New Hymn ‘Welcome Home’ — The Story Behind It Composer Andrea Brett explains how a 2017 encounter with Demetrius O’Neal — a recent convert serving as a greeter at a Spokane ward on a snowy Sunday morning — inspired her hymn ‘Welcome Home,’ now published in the new Hymns for Home and Church. Brett submitted 10 pieces when the global hymnbook was announced in 2018; this was the only one she’d written before the call. She received confirmation of its selection in February 2025, then had a full-circle moment when she and O’Neal sat near each other at the April 2025 General Conference as the Tabernacle Choir performed it. O’Neal’s name appears in the hymn’s tune name as a tribute. The hymn is now translated and sung globally. Source: Church Newsroom / Richie’s document 1C. Family History Records Are a ‘Sacred Thread’ — Elder Bragg at International Archivists Congress Elder Mark A. Bragg, General Authority Seventy and executive director of the Church’s Family History Department and FamilySearch International, was a keynote speaker at the III Congress of Archivists: Digital Archive Expo (DA-EXPO), held June 8–12 in Astana, Kazakhstan. He called family history records ‘the thin but sacred thread’ tying people together across generations, and argued that records are ‘in a very real sense, witnesses.’ Elder Bragg framed the digital revolution in genealogy in moral terms: for most of history, access to records was shaped by ‘proximity, resources and specialized knowledge,’ but today a record created in one place can be preserved in another, indexed in a third, and discovered by someone on the other side of the world. ‘The reach is astonishing. The speed is breathtaking. The possibilities are almost beyond measure.’ He also said that ‘access is an act of kindness’ — records only fulfill their divine purpose when they are found, understood, and used. His core message: preserving memory is an act of hope. ‘It says that the past is not dead to us and that the future deserves more than fragments.’ Source: Church News, June 17, 2026 Angle: Great ‘quiet but meaningful’ story — LDS family history going global and leveling the playing field for genealogy worldwide. 1D. America Gives — All 50 States Receive Food Donations The Church completed a milestone in its ‘America Gives’ initiative by delivering a shipping container of food to Hilo, Hawaii — marking all 50 states reached. The initiative aims to deliver 250 truckloads of food nationwide in 2026 to celebrate the U.S. 250th anniversary. In Hawaii, the food went to The Food Basket, distributed to 10 local nonprofits. Notably, 42% of residents on the island of Hawaii face food insecurity — the state’s highest rate. Rosie Rios, chair of America 250 and former U.S. Treasurer, praised the milestone. Local Methodist pastor Ted Lesnett said recipients will know ‘when they were hungry, someone cared.’ Source: Church Newsroom / Richie’s document 1E. Church Donates $250,000 NZD to Christchurch Anglican Cathedral Rebuild The Church announced a NZ$250,000 donation (June 19, 2026) toward the restoration of Christchurch’s iconic Anglican Cathedral — damaged in the February 2011 earthquake. Elder Peter F. Meurs (Pacific Area President) and Anglican Bishop Peter Carrell presided at the announcement. The donation comes as the project faces a $45M funding shortfall and an overall $219M budget. The Christchurch City Council has offered $15M contingent on government and Anglican Church matches. Notably, a New Zealand Buddhist community made a similar gift in 2023 — the LDS donation continues a cross-faith pattern of support for the heritage project. Source: Richie’s document Angle: Rare and heartwarming — LDS funds an Anglican cathedral. Good interfaith story. 1F. Central America Humanitarian Blitz — 5 Projects, 500,000+ People In late May and early June 2026, the Church announced five humanitarian projects across Central America (with Sister J. Anette Dennis, First Counselor in the Relief Society General Presidency, representing the Church). Projects include: the ‘Windows of Light’ eyecare program in El Salvador (350,000+ screenings to date); safe water access for 250,000+ in Belize, Guatemala, Honduras, and Nicaragua (with UNICEF); nearly 750 computers/tablets donated to 66 educational institutions in Guatemala; and medical equipment for the ‘La Mascota’ children’s hospital in Nicaragua. Source: Church Newsroom, June 2026 2. FAITH & DOCTRINE 2A. President Christofferson in Philadelphia & Toronto A busy week of ministry for President D. Todd Christofferson: He offered the invocation at Becket’s Canterbury Medal Gala in Philadelphia (multifaith event celebrating religious liberty), alongside Elder Gary E. Stevenson and others. The group also visited the Liberty Bell and Independence Hall — fitting, ahead of America’s 250th. Christofferson reflected on D&C 101 and the Constitution’s purpose to protect ‘all flesh.’ From Philadelphia, he and Sister Christofferson traveled to Toronto, meeting 250+ missionaries in the Canada Toronto Mission weeks before it divides into three missions (Toronto West, Toronto East, and Montreal). He also spoke to hundreds of LDS youth, with one — Amelia Fischer — saying ‘no amount of words can describe how I felt tonight.’ Source: Richie’s document / Church Newsroom 2B. BYU Scholar Study: Religion Adds 7.6 Years to Life The BYU Wheatley Institute is releasing three reports analyzing 3,000 of the most scientifically rigorous studies (culled from 60,000+ papers by Duke University) on religion and health. Key findings: 33/34 studies show improved social health; 10/11 show improved mental health; 7/8 show improved physical health. Regular worshippers live an average of 7.6 years longer (up to 13.7 years longer for African Americans). A ‘landmark finding’: 256 studies show religion prevents/aids recovery from substance abuse (vs. 6 showing negative impact). Author Loren Marks recommends public health frameworks treat religious involvement like exercise recommendations. Source: Richie’s document 2C. Elder Soares Testifies in the Philippines Elder Ulisses Soares completed a two-week ministry in the Philippines (mid-May 2026), meeting with 600+ young single adults in Cebu, 450+ in Quezon City, and 340+ missionaries at the Philippines MTC. His recurring message: ‘His arms are extended to all of us.’ The Philippines has more than 905,000 Latter-day Saints — the Church’s fourth-largest national membership. Two new temples were also dedicated in the Philippines this month: the Davao Philippines Temple (Elder Renlund, May 3) and the Bacolod Philippines Temple (Elder Andersen, May 31). Source: Church Newsroom, June 17, 2026 3. CULTURE & CURIOSITIES 3A. LDS Author in Everyman’s Library — A First BYU biology and bioethics professor Steven L. Peck has reportedly become the first Latter-day Saint author included in the prestigious Everyman’s Library series (publishing canonical English fiction since 1906). His 2012 novella A Short Stay in Hell — a philosophical horror story about a Mormon man condemned to an afterlife library containing every possible book — went viral on BookTok and found a new audience. A literature historian noted: ‘No Mormon or Mormon-adjacent writer that I know of has ever been featured in this prestigious series.’ The Salt Lake Tribune covered the story, noting the irony that a theological horror story marks one of the most significant moments in LDS literary history. Source: Salt Lake Tribune / Richie’s document 3B. The Sasine Family — 40 Countries Before Age 1 Keith and Chelsea Sasine, an LDS couple stationed in Germany (Keith is an Army oral surgeon), made history in November 2025 by taking their youngest daughter Mia to 40 countries before her first birthday (March–November 2025), using a Honda Odyssey for European road trips. The family of six (including Izzy, 10; Abby, 9; and John, 4) attends local wards wherever they travel — a faith anchor the couple says strengthened their testimony and taught their kids the importance of the Sabbath globally. They’re planning a move to Colorado Springs in 2026. Source: Richie’s document 3C. Jen Affleck (Secret Lives of Mormon Wives) Expecting Baby #4 Jen Affleck, 27-year-old star of The Secret Lives of Mormon Wives and Dancing with the Stars alum, announced June 18 that she and husband Zac Affleck are expecting their fourth child. She shared the news on Instagram captioned ‘Chapter Four.

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news markets are betting that the next rate move by the US Fed will be a hike. And that has juiced up the USD today. But first, the overnight dairy Pulse auction brought sharply lower prices for the three lines offered. AMF took a -7.5% tumble from last week's full auction event. They didn't release the butter price this time. SMP fell -4.5% from last week and WMP fell -1.9%. But given the retreat of the NZD at the same time (-2.8%) the impact in local currency will be much less. In the US, there was another good weekly jobs indicator from ADP for private payrolls, rising about what was expected. And the flash US factory PMI for June shows solid growth, in fact its best in 4 years, but it also signals lower employment and elevated price inflation, so a mixed bag. The fall in factory jobs was the fastest since the pandemic. New order growth was good but the hikes in input prices are still next-level. Their service sector rose too but much more modestly and new order growth was tame, But none of this showed up in the Richmond Fed's factory survey. While it did expand it was very modest and well below its May level and what was expected. They had the same lack-luster result in their service sector. There was a well-supported US Treasury 2 year bond auction overnight, delivering a median yield of 4.14% (high 4.19%) which was well above the 4.02% median at the same event a month ago. The Chicago Fed boss said yesterday the US inflation is too high and "going the wrong way". (He is presently an alternate FOMC member, but he will be a full member in 2027.) Across the Pacific, Japan's factories are expanding solidly and faster. They recorded a stronger rise in business activity in June, but rate of cost inflation has hit a four-year high. New orders rose their fastest since 2022. Singapore is managing to navigate the current global inflation pressures well. They recorded an inflation rate that held steady at 1.8% in May, unchanged for a third consecutive month and below market expectations of 2%. In India, their flash June PMI's remained elevated and very expansionary, in both their factory and services sectors. New orders rose at a good pace, but input cost pressures eased, rising at a five month low. In Taiwan, we are so used to reporting spectacular results but they no longer seem out of the ordinary. But in fact they remain extraordinary. Their May export orders were up +47% from a year ago to almost a new record high. In Europe, their factory PMI is still expanding in June, but less so. Inflationary pressures show signs of softening there. Holding them back is their services sector. The latest flash PMI for Australia shows that business activity nears stabilisation in June as the service sector improved in Australia, but new orders continue to fall, including for new export orders. And staying in Australia, their latest quarterly update for rural commodities notes that the gross value of agricultural production is forecast to fall by -5% to AU $98.3 bln in the 2026–27 upcoming year. They expect "average broadacre farm business profit" to fall by -70%, driven by lower revenue and higher input prices. The UST 10yr yield is now just on 4.46%, down -5 bps from this time yesterday. The price of gold has fallen to US$4130/oz, down a net -US$50/oz from yesterday. Silver is just under US$62/oz, down -US$3.50 from yesterday. Oil prices are down -50 USc from yesterday at just on US$73/bbl in the US, while the international Brent price is now just on US$77/bbl. Hormuz transits are staying modest up with 16 crude or product tankers exiting over the past 24 hours (7 dark with transponders off) and 20 entering for new loads (2 dark). The Kiwi dollar is down another -40 bps from this time yesterday at just on 56.7 USc and a seven month low. Against the Aussie we are up +40 bps and back at 82 AUc. Against the euro we are down -20 bps at just on 49.8 euro cents. That all means our TWI-5 starts today at just over 60.6 which is down another -30 bps from yesterday, and near its lowest since the GFC in 2009. The bitcoin price starts today at US$63,388 and up +0.4% from this time yesterday. Volatility over the past 24 hours has been modest at just over +/- 1.8%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news it seems Iran is going to come out of the current 'peace deal' with a very large reconstruction commitment. To end the standoff, the US is offering Iran substantial funding even if via convoluted means so that Trump can claim the US isn't involved. The overnight dairy auction brought lower prices that at the prior full event, but not as low as at the the prior Pulse event, nor what the derivatives market was expecting. Still, it was a -2.8% retreat in USD terms, down -1.4% in NZD terms and to the lowest overall level since early February. Generally the powders were softer than expected, the milk fats note as soft as expected. In the US, their weekly ADP employment update signaled a slightly slower pace of hiring, the softest since early March. But this signal is still expanding, just slower. The New York Fed's regional services sector survey found softer conditions in June than at the prior survey with declining activity and firms not very optimistic. Meanwhile the US national housing start data for May revealed sharply lower activity, down -8.7% from the same month a year ago. In fact, apart from the pandemic period, this is the lowest level in 17 years and the GFC.. All eves now turn to the US Fed and their meeting tomorrow. Many economists are betting on higher rates as Kevin Warsh takes the reins at the Fed. But it is no certainty as financial markets see no-change in their rates tomorrow, despite the high US inflation measures. In Canada, their real estate market seems to be recovering led by Toronto and Ontario markets, with national sales rising at a rate in May not seen since 2024. In China, new home prices were -3.5% lower in May from a year ago, matching April's pace and that extends their consecutive decline to almost 3 years. Second hand home prices fell at a faster rate in the 70 major cities that their official data tracks. But there are new pockets where increases are starting to show up, even for pre-owned homes. China said its industrial production expanded +4.5% in May from a year ago, better than the +4.1% in April and better than the expected +4.3%. And their electricity production rose +4.2% in the same period, giving some cred to the industrial production claims (which has been occasionally absent in previous months). But China's retail sales actually fell -0.6% in May from the same month in 2026, following an easing pattern that started in March, and the first decline in retail sales there since December 2022. But much of this weakness is due to lower car buying which was down -16%. Sales of home appliances and audiovisual equipment was also down -16%, home improvement down -11%, gold and silver jewelry down -9%, and furniture down -8.7%. Turning up sharply were beverages and tobacco, clothing and cosmetics, comfort items popular when things are stressful. As expected, the Bank of Japan raised its policy rate by +25 bps to 1.0% today in a 7-1 majority decision. This new rate is its highest in 31 years. In Australia, momentum in their manufacturing sector stalled heading into mid-year, with conditions slipping back neutral after a short-lived recovery. The Middle East conflict is reigniting cost pressures across the industry, according to the latest update of ACCI-Westpac Business Survey for the June quarter. And late yesterday, the RBA agreed unanimously to hold their cash rate target at 4.35% as was widely expected. On the commodities front we should note that while urea prices have fallen (with oil), that is not the case for sulphur, not bitumen. Many commodity prices may stay elevated for a long time yet. The UST 10yr yield is now just on 4.42%, down -4 bps from this time yesterday. The price of gold has recovered further, up +US$20 from yesterday to US$4341/oz. Silver is unchanged at US$70/oz. Oil prices are down another -US$5 from yesterday at just over US$75.50/bbl in the US, while the international Brent price is now just over US$78.50/bbl. Hormuz transits are still minimal with only six crude or product tankers exiting over the past 24 hours. Oddly however its seems the US is using an Iranian ship-transfer tactic to get some cargoes through. And we should note that construction and other costs for electric battery storage stations have fallen below that of gas-fired power plants for the first time, as overproduction in China and a shift away from electric vehicles drove battery prices down -40% in 2025, while a turbine supply crunch is making new gas plants more costly. The Kiwi dollar is up +10 bps from this time yesterday at just on 58.4 USc. Against the Aussie we are up +20 bps at 82.6 AUc. Against the euro we are unchanged at just under 50.3 euro cents. That all means our TWI-5 starts today at just under 62 which is up +10 bps from yesterday. The bitcoin price starts today at US$65,878 and down -1.5% from this time yesterday. Volatility over the past 24 hours has been modest at just under +/- 1.1%. And we should also note that reports suggest Binance is about to lose its licence to operate in the EU. Binance is controlled by Changpeng Zhao (CZ) who was convicted of money laundering in the US (and of course got pardoned there by Trump). You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

US President Trump said we made a great settlement of war with Iran, signing will probably happen in Europe and soon; Brent -2.0% at USD 88.50/bbl.Israel is not a party to the MOU, though PM Netanyahu expressed his appreciation to the US' commitment, CBS reported. Iran is reportedly yet to come to a final conclusion on the deal.APAC stocks rallied in a continuation of the strength from Wall St. on the settlement report and despite the Israeli & Iran reporting.European futures point to a firmer open, Euro Stoxx 50 +1.7%. US futures are also bid, ES & NQ +0.2%, looking to the SPCX IPO.FX moved to the above, currently features a firmer USD to the detriment of NZD and JPY in particular. Fixed income holds onto gains.Looking ahead, highlights include German/French/Spanish HICP Final (May), UK GDP (Apr), Industrial Production (Apr), Canadian Wholesale Sales (Apr), US UoM Prelim. (Jun), SpaceX Debut & COO Interview.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news uncertainty swirls in the Middle East as Iran has shot down an American Apache helicopter (and Trump is looking more like Jimmy Carter by the day). But more ships are transiting (paying Iran's toll), and that extra oil is easing the global price. But first locally, the overnight dairy Pulse auction delivered lower prices for the four products offered. AMF was down -4.6% from last week's full auction. Butter was down -0.6%. SMP was down -5.5% and WMP was down -3.5%. But an intervening -2% fall in the NZD took some of the sting out of these retreats. In the US, NFIB Business Optimism Index fell again and to its lowest since October 2024.. These businesses are struggling with "significant and unpredictable hikes in fuel prices", which they find harder to pass on to their customers compared to their larger corporate competitors. The weekly ADP jobs report said new private sector jobs created were lower last week at +29,000, in fact their lowest since the end of March. American existing home sales actually rose in May to an annualised rate of 4.17 mln, its highest of the year. This was impressive because mortgage interest rates rose in the period and seems not to have been the handbrake sometimes assumed. All the same, unsold inventory rose. There was a small but notable increase in demand for the overnight and popular US Treasury 3 year bond which delivered a median yield of 4.15% (high of 4.19%), sharply up on the 3.92% median at the prior equivalent event a month ago. In April, US exports of goods and services rose +2.6% from March +12.5% from a year ago, helped by better exports of crude oil, AI computer gear and aircraft, but most offset by a quite sharp fall in tourism receipts. Imports were up +1.9% from March, up +9.1% from a year ago, dominated by capital goods and rising transport and travel cost by Americans. Their trade deficit narrowed slightly, but big trade deficits remained with Taiwan (-$19.3 nln), Vietnam (-$19.3 bln), Mexico (-$14.8 bln), China (-$12.0 bln), the EU (-$7.2 bln), and Canada (-$6.2 bln). The Texas screwworm outbreak is spreading which will affect their beef trade. The outbreak now includes for a dog. Meanwhile, Canadian exports rose +1.6% from the previous month to C$75.2 bln in April, the highest on record and up +24.7% from the same month a year ago. Imports rose too, but they still managed to report their best monthly trade surplus since January 2025 and their best April since 2008. Across the Pacific, China's exports surged +19.4% in May from a year ago to a record high of US$377 bln, far exceeding forecasts of +15% and accelerating sharply from April's 14.1% rise. It was the fastest increase since February and gave them a trade surplus of +US$105.4 bln. However, Chinese oil imports hit an eight year low in May. Across the strait, Taiwan said its exports rose even more impressively, up +52% from a year ago. Their imports were up +55%. That means a trade surplus for them of +US$17.9 bln, middle-range for what they have had since October 2025 and wildly higher than in any prior period Japanese machine tool orders fell in May from April after falling in April too. But they remain up +37% from a year ago. The monthly easing was for orders from both domestic and foreign customers. Staying in Japan, reports are growing that their central bank will raise its policy rate by +25 bps to 1.0% when they meet on Friday week. And they are likely to pause their JGB bond sell-down program that is underway. And in Indonesia, their central bank held an emergency meeting to assess the economic crisis growing in their financial and fx markets. At that meeting they hikes their policy rate to 5.50%, a hike of +25 bps. They last met only three weeks ago when they raised their rate by +25 bps at that time too. They started 2026 with a 4.75% rate. Their actions are required to stop the Indonesian currency falling sharply, down -7.8% in 2026. In Europe, the Netherlands blocked an American company from buying a local firm that handles its national ID system, saying it would create a “threat to the public interest.” The UST 10yr yield is now just on 4.53%, down -2 bps for the day. The price of gold will start today down -US$75 from yesterday at US$4258/oz. Silver is down a sharp -US$3.50 at just under US$65/oz. Oil prices are down -US$2.50 from yesterday at just under US$88.50/bbl in the US, while the international Brent price is now just on US$91.50/bbl. Hormuz transits are still very low despite the pricing optimism. China's crude imports dropped to around 7.8 million barrels per day last month, the lowest level in more than eight years and nearly 4 million barrels per day below the 2025 average. Weaker shipments to from the world's largest oil importer even if caused by Hormuz, combined with record US exports and emergency reserve releases, has limited the price impact of the Middle East conflict. The Kiwi dollar is up +10 bps from this time yesterday at just on 58.2 USc. Against the Aussie we are up +30 bps at 82.8 AUc. Against the euro we are unchanged at just on 50.4 euro cents. That all means our TWI-5 starts today at just on 61.9 which is up +10 bps from yesterday. The bitcoin price starts today at just on US$61,545 and down -2.95% from this time yesterday. Volatility over the past 24 hours has been moderate at just over +/- 2.6%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Per- and polyfluoralkyl substances (or, PFAS) have been called ‘forever chemicals'. That's because these synthetic chemicals are incredibly durable, lasting thousands of years. This durability has made this large group of chemicals useful in a variety of industries, from cosmetics to electronic and cookware. However, PFAS have been linked to a myriad of health risks including cancers, liver damage, and suppressed immunity, bad news, given their ubiquity within the environment and humans. Recently, the Australian Government moved to sue the manufacturing giant 3M for $2.4b NZD, for their use of forever chemicals in firefighting foam, which contaminated numerous defence force bases across the country. While no such legal action is yet on the cards for New Zealand, increased attention is being given to the presence of PFAS in our environment. In 2022 PFAS were for the first time included in the suite of compounds analysed in a quadrennial groundwater survey. However, there is still a lack of information on how present PFAS are in Aotearoa New Zealand, so later this year the Environmental Protection Authority will be engaging with councils and other agencies to carry out further groundwater testing. To learn more, producer Theo spoke with the Environmental Protection Authority's acting manager of hazardous substances applications, Dr Shaun Presow.

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news of a changing of the guard. Countries are moving away from US Treasuries as a core reserve asset, replacing it with gold. At the same time, crypto values including for bitcoin, seem to be fading fast. But first up today, there was a full dairy auction overnight, one that brought slightly lower overall prices, with the USD index falling -0.6% mainly on -3% lower SMP prices. Milk fat products like AMF. Butter and Cheddar all rose, offsetting the fall in powder prices. But the NZD has also strengthened, so the result in NZD terms was a -2.0% fall. A pull-back in demand from China is part of this story too. In the US, they reported a surge in April job openings, their most in 18 months, notably in California and other western states. It is a services related thing, with manufacturing jobs not really participating. Meanwhile, the US RCM/TIPP economic sentiment survey fell slightly in June from may, but to its lowest in two years. And the US Logistics Managers Index is showing the full impacts of the current supply-chain disruptions and stockpiling. It held in May at its highest since the pandemic stress period. It is increasing at an increasing rate for inventory costs, warehousing capacity, and freight prices. In China, we should note that it is wheat harvest season and that they expect a bumper result. At the same time, both Australian and US farmers are hesitating in their plans for wheat as high fertiliser and fuel costs threaten to make the prospects very uncertain. In the EU and as expected, CPI inflation firmed up to 3.2% in May from 3.0% in April. Their core inflation rose as well. It seems to be only about rising fuel costs at present with the spread wider quite limited. Will the ECB hike its policy rate on June 11? Markets are betting 100% it will. In Australia, they have slipped into their first trade deficit since 2017 in the March 2026 quarter. Exports of minerals fell (except for gold) while imports of data center equipment surged. Globally, it is worth noting again that aluminium, zinc, copper and tin are all now either at record highs or at post-pandemic highs. The UST 10yr yield is now just on 4.46%, down -1 bp from this time yesterday.  The price of gold will start today down -US$9 at US$4482/oz. Silver is down -50 USc at just over US$75/oz. Interestingly, an ECB analysis released overnight has highlighted that after the run-up in the gold price, at the same time as the value of US Treasuries fell, gold was the largest single asset held for 'foreign reserves'. (see Chart 7) Oil prices are up another +US$2 just under US$93.50/bbl in the US, while the international Brent price is now on US$96/bbl and up +US$1.50. Hormuz remains shut. The Kiwi dollar is lower from yesterday at this time at 59.2 USc, down -30 bps. Against the Aussie we are also down -40 bps at 82.5 AUc. Against the euro we are down -10 bps at just under 51 euro cents. That all means our TWI-5 starts today at just over 62.7 which is down -20 bps from yesterday. The bitcoin price starts today at just on US$67,464 and down a sharp -5.9% from this time yesterday and falling. Crypto funds are getting excess redemptions at present. Volatility over the past 24 hours has been high at just under +/- 3.5%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Michelle Kam and Ray Heung discuss why the latest US PCE data is unlikely to trigger a hawkish Fed shift. Tune in as they assess stagflation risks and Bund opportunities in Europe and share views on the NZD, China equities, and the need for a diversified equity positioning.You can read our latest Global Market Outlook today here.Speaker(s):- Michelle Kam, Investment Strategist,  Standard Chartered Bank - Ray Heung, Senior Investment Officer,  Standard Chartered Bank For more of our latest market insights, visit Market views on-the-go or subscribe to Standard Chartered Wealth Insights on YouTube.

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the bond market is dominating the news today with sharply rising long term yields as investors see no end in sight top the war inflation upon us now. The benchmark US Treasury 10 year yield is now up to its highest since the brief October 2025 spike, and before that, it highest since 2023. In those earlier peaks, there was nothing like the fundamental inflationary pressure building now. And the US Treasury 30 bond yield is now at its highest since 2007. And if it lasts, yield asset valuations are at risk, especially real estate. There is already severe valuation pressure in the commercial office market from low demand. A higher cost of money could do widespread damage to these market valuations, globally. But first today, the overnight full Global Dairy Trade auction saw prices rise +0.6% in USD terms, rise +1.55% in NZD terms. This is a stable commodity in a sea of instability elsewhere. The outcome may have been helped by the low volumes on offer, down -15% from the same auction a year ago. In the US, private employers added an average of 42,250 jobs per week in the four weeks to May 2, up from 33,000 in the prior period, according to the ADP Research. Strong hiring in healthcare is a key feature. US pending home sales rose +1.4% in April from March to be +3.2% higher than year-ago levels. But the recent modest rises are not yet enough to make back the big falls in December and the small fall in January. The sharply rising 30 year bond rates will likely affect this market going forward. In Canada and as expected, their headline CPI inflation rose 2.8% in April from 2.4% in March and the highest in two years, But this is notably lower than the expected 3.1% rate and probably takes the pressure off their central bank to raise rates. In Japan, they said their GDP came in with a +2.1% (real) annual expansion are in Q1-2026, up from the +0.8% in Q4-2025. A rise was anticipated but only to +1.7%. In China, the always excellent Bill Bishop has used AI (Claude) to compare what the Chinese think was accomplished, with what the US think. It is here. There is some overlap. But there is clearly much confusion on what was actually agreed. Basically we should expect both sides to accuse the other of reneging - and in turn, the great rivalry will just fester on. In Malaysia, their inflation came in at 1.9% in April , at the low end of their expected level and only a modest rise from March. It was their most however since July 2024. In Europe, they posted a smaller trade surplus than expected as exports underwhelmed in March and imports rose. It was a much lower surplus that they recorded a year earlier. In Australia, the Westpac-Melbourne Institute consumer sentiment survey is picking up a range of recent trends. Sentiment improved marginally despite the fuel shock, but within that more people are downbeat on their economy. The Canberra Budget didn't have a big impact though. Job loss fears are still elevated even if slightly less so. But homebuyer sentiment is down sharply to deeply pessimistic levels. And consumer house price expectations have softened even if they are still positive. A key thing to watch across the ditch is the widening sentiment gap between young and old. The ‘baby boomer' and ‘Generation X' cohorts are extremely weak (angry). Sentiment amongst ‘Millennials' is only modestly pessimistic. But ‘Generation Z' is outright positive they note. Rich people whingeing over losing their tax advantages in the latest Australian Federal Budget is becoming a feature of public discourse there, especially in the real estate sector. The UST 10yr yield is now just on 4.67%, up +8 bps from this time yesterday.  The price of gold will start today down -US$47 at US$4500/oz. Silver is down -US$2 at just over US$74.50/oz. American oil prices have fallen -US$3.50 to just on US$103.50/bbl, while the international Brent price is now at just over US$110/bbl, down only -50 USc. The Kiwi dollar is down -30 bps from yesterday at this time at 58.4 USc. Against the Aussie we are also up +10 bps at 82.1 AUc. Against the euro we are down -10 bps at just on 50.3 euro cents. That all means our TWI-5 starts today at just on 61.9 which is down -30 bps from yesterday. The bitcoin price starts today at US$76,771 and up just +0.1% from this time yesterday. Volatility over the past 24 hours has been low at just under +/- 0.9%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

ADHD isn't just distraction. It's not laziness. It's not "everyone feels like that sometimes."It's crying over a text message. Needing a nap after replying to three emails. Avoiding something for three weeks that takes seven minutes.In this episode, we go back to basics…What ADHD actually isHow it shows up in the brainExecutive function explained in a way that finally makes senseThe emotional side nobody talks about enough And why inconsistency isn't a character flawYou weren't doing it wrong. You just had the wrong manual my friend.

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news that although the US claims the ceasefire with Iran is holding and "ships are lining up to transit", in fact, very little is moving in the area between Iran's red lines. And the most high profile transit in the past 24 hours was an Iranian tanker. Still, the US claims resonated on Wall Street, and stocks rose, benchmark rates fell. But first today, there was another full dairy auction earlier today, a small one where volumes offered and sold were the least in fifteen years, since mid 2011. But prices were up +1.5% in USD, up +1.6% in NZD. Butter prices continued to slide, but there were good gains for SMP, WMP and mozzarella. These gains end two consecutive full events where prices fell. US job openings fell, although to be fair, but less than expected. But even then, they are back at levels they had in April 2018, which is less than it seems because their labour force is so much larger now. There were two services PMI reports out for the US overnight (ISM and S&P Global) and both showed that new business intakes fell for first time in two years as war in the Middle East and inflation hit demand. But both were positive even if less so that in the prior two months The reason for the retreat cam be found in the latest April logistics managers report, where freight costs leapt, taking this index back to pandemic-stress levels. The US RCM/TIPP economic optimism index fell yet again, down to levels last seen in early 2024. It has retreated steadily since December 2024. It's sponsor's report called it 'steady' but that is gilding it somewhat. US exports and imports were little-changed in April, but both are in rising trends even if imports rose slightly more than exports (which rose largely on petroleum exports). Their trade deficit was widened. Canada also reported export data and that came in at a one year high, and unexpectedly good result, largely on the back of high exports of petroleum and gold. Imports fell back in April but from an unusually high March level. The result was a good trade surplus, their first since September 2025. Singapore reported March retail sales late yesterday and they were better than expected with a good +4.8% rise from a year ago. That represents a real gain because their CPI inflation was 1.8% in March. As widely anticipated, the RBA raised its cash rate target by +25 bps to 4.35% late yesterday. It was a split decision with one voting member wanting to hold the rate unchanged. But they face sharply higher inflation threats that seem to be growing and prior rate hikes have done little to quell those. However they have restrained their housing market enthusiasm and this latest hike is expected to put the brakes on that further. Traders still believe there is at least one more rate increase this year despite the RBA saying their policy was still only mildly restrictive. This comes after the March CPI rose +4.6%, and yesterday they reported that household spending remained high over the year in nominal terms, up +6.3% compared to March 2025 (and the highest since January 2023). Most of this is 'price' and much of it relates to a +32.8% increase in monthly fuel prices. But in volume terms, they say fuel purchases are lower, down -1.3% in March from February. The UST 10yr yield is now just on 4.42%, down -2 bps from this time yesterday.  The price of gold will start today up +US$37 at US$4559/oz. Silver is unchanged at just over US$73/oz. American oil prices are down -US$3 at just on US$102/bbl, while the international Brent price is down -US$3.50 and now at US$110/bbl. It is hard to see these prices easing further given the sharp fall in global oil reserves recently. Even the future process of building them back will add to demand and prices. The Kiwi dollar is up +20 bps from yesterday at this time at 58.9 USc. Against the Aussie we are up +10 bps at 82 AUc. Against the euro we are up +20 bps at just on 50.4 euro cents. That all means our TWI-5 starts today at just under 62.3 which is up +20 bps from yesterday. The bitcoin price starts today at US$81,300 and up +0.9% from this time yesterday. Volatility over the past 24 hours has been modest at just under +/- 1.3%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

The sidekick of a notorious drug lord who had an $8-million NZD bounty on his head has been arrested. Earlier this year, Mexico's most wanted man, a top cartel leader known as "El Mencho," was killed in a military operation. His death triggered a wave of violence across the country. Now, one of his top aides, nicknamed "The Gardener," has been captured after authorities found him hiding in a ditch. Correspondent Adam Hancock spoke to Lisa Owen from Mexico City.

"Somalia closes Bab al-Mandab Strait to Israeli shipping", IRNA reports; "The move comes as a direct response to Israel's recognition of the breakaway region of Somaliland, Yemen Press Agency reported on Wednesday".European bourses are mostly lower; US equity futures also extend lower, TSLA -2.7% post-earnings.USD and NOK outperform, GBP shrugs off political instability as PMIs firm, NZD underperforms.EZ PMIs initially helped fixed income off lows, but an inflationary UK release sparked new lows.Geopolitics keeps crude prices underpinned and metals softer amid a firmer USD.Looking ahead, highlights include Global Flash PMIs (Apr), Mexican Inflation (Apr), Canadian PPI (Mar), US Jobless Claims (Apr/18). Supply from the US. Earnings from Blackstone, Freeport-McMoran, American Airlines, Keurig Dr Pepper, Intel, Lockheed Martin, and SAP.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said the US have been asked to hold their attack on Iran until such time as its leaders and representatives can come up with a unified proposal.It was reported that Iran received 'some sign' the US is ready to break the blockade, spurring mild risk-on at the time.UKMTO reported two separate incidents near Oman and Iran, with the latter spurring upticks in the crude complex.European bourses opened higher but have since trundled lower, ASM International +8% after a strong Q1 and guidance; US equity futures gain.USD tracks oil prices, NZD repricing continues and Sterling unreactive to mostly in-line inflation data.Fixed income follows energy but is relatively contained thus far, Gilts marginally underperform.Looking ahead, highlights include EZ Consumer Confidence (Apr), CBRT Policy Announcement (Apr). Speakers include ECB's Lagarde & Cipollone. Supply from US. Earnings from Vertiv, Boeing, GE Vernova, AT&T, Tesla, ServiceNow, IBM.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the US-wished resumption of talks with Iran don't seem to be happening. The Strait of Homuz remains closed, and even if it was re-opened it is never going back to 'normal'. It seems Trump has effectively generated to global push necessary to transition away from fossil fuels. Oil company share prices are retreating. Big investors are trying to offload their coal assets. China's green-tech is in demand everywhere, including in the US. We are now in the age of electricity where demand is surging. Meanwhile the Warsh confirmation hearings in the US are following the predictable partisan scripts. But first, today's full dairy auction featured a low amount of product offered and sold. -10% less than for the same week a year ago. Overall prices were down almost -2.75% below the last full auction in USD, down -5.85% in NZD. Northern hemisphere seasonal volumes are rising so global supply is very adequate. The main weakness in today's auction were from butter (-7.9%, AMF (-9.6%) and mozzarella (-3.1%). But WMP basically held its own (-0.6%) and SMP rose (+3.2%). Demand out of China rose, offsetting the unsettled Middle East demand. In the US there was another strong indicator from the weekly ADP employment report, the second in a row. And US retail sales came in better than expected for March, up +4.6% from a year ago, about twice the increase as for February. And that is their biggest rise in a year. But of course much of this will be inflation-related and much just came from the spike in retail petrol prices. US pending home sales were up in March from February although the gain was less than in the prior month. That still leaves these residential real estate sales -1.1% lower than year ago levels. Taiwanese export orders blew past all expectations yet again coming in at US$91.1 bln for March, up +67% from a year ago and up +18.5% above the prior stunning record high. Adjectives fail to adequately describe what is happening here The German ZEW sentiment survey fell much sharper than the expected fall in April. In Australia, the ACCC's court case against supermarket giants Coles and Woolworths regarding deceptive pricing practices over 'specials' is capturing attention. The UST 10yr yield is now just on 4.29%, up +4 bps from this time yesterday.  And we should probably note that US private credit funds are about to report their March results and especially in the direct lending sector redemptions are expected to far exceed new investment. It is notable that big-money, wealthy investors are leading the retreat and probably leaving late-arriving retail investors with very damaged positions. Interestingly, there are similar, although not as severe, pressures in China's private credit markets too. The price of gold will start today down -US$92 at US$4715/oz. Silver is down -US$3.50 at US$76.50/oz. American oil prices are up +50 USc at just over US$89.50, while the international Brent price is up +US$3, and now at US$98/bbl. The Kiwi dollar is up +10 bps from yesterday at this time at 59 USc. Against the Aussie we are up +30 bps at 82.4 AUc. Against the euro we are up +20 bps at just on 50.2 euro cents. That all means our TWI-5 starts today also up +20 bps from yesterday at just on 62.4. The bitcoin price starts today at US$75,782 and off a minor -0.2% from this time yesterday. Volatility over the past 24 hours has remained modest also at just on +/- 1.2%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

Dom talks with Shane Kingston, T&G's Managing Director of Apples, about its ENVY™ apple brand surpassing NZD $1 billion in global retail sales, how it's become the first apple brand from NZ to reach the milestone and how it's used lessons from COVID and Cyclone Gabrielle to help develop and enhance its end-to-end supply chain system. Tune in daily for the latest and greatest REX rural content on your favourite streaming platform, visit rexonline.co.nz and follow us on Instagram, Facebook and LinkedIn for more.

On today's REX Daily Podcast, Dom talks with Precision Farming CEO Chloe Walker about the origin of company and its software connecting fertiliser and chemical ordering systems to a farmer’s rural partners and machinery platforms, and its acquisition of NuPoint, a business specialising in cloud-based management systems. They also discuss the future of agri-tech, particularly AI... He talks with Shane Kingston, T&G's Managing Director of Apples, about its ENVY™ apple brand surpassing NZD $1 billion in global retail sales, how it's become the first apple brand from NZ to reach the milestone and how it's used lessons from COVID and Cyclone Gabrielle to help develop and enhance its end-to-end supply chain system... And he talks with Lynda Gray, Editor of Deer Industry News, about a DINZ solar power and EV day in Gore this week, the deer industry's new AI tool, Seeka, and the official launch of a new immune functional product in South Korea this week, using premium NZ deer velvet. Tune in daily for the latest and greatest REX rural content on your favourite streaming platform, visit rexonline.co.nz and follow us on Instagram, Facebook and LinkedIn for more.

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the IMF has downgraded its global forecasts and said the world's economy is drifting into unpalatable conditions. A third recession since 2000 is possible, they say. The Strait of Hormuz remains closed by the actions of both combatants. "Talks" are supposedly going on which is exciting equity markets. But bond and currency markets are bracing for stagflation. But first up today, the overnight dairy Pulse auction brought the expected lower prices, with WMP down -1.8% from the prior week's full auction event, SMP down -1.9%, and butter down -3.7%. These shifts are in USD, and with the rising NZD they will be deeper. Butter in fact is now at its lowest level since January 2024, a 27 month low. In the US, their labour market does not appear to be cracking according to the high-frequency weekly data from the ADP Pulse tracking. US private employers added +39,250 jobs per week in March. This is a sharp increase from the +26,000 weekly jobs created in the prior period and is the fourth consecutive week of improvement in hiring. The March NFIB Small Business Optimism Index fell to its lowest since April 2025 and this new level is lower than the lower level expected. They said "the dramatic spike in oil prices has spooked consumers and owners alike. Small business owners are having to absorb those higher input costs and pass them along to their customers”. Their uncertainty measure spiked. Meanwhile US producer prices rose less than the expected +4.6% jump in March, 'only' rising +4.0% according to official data. Still, that is the fastest rise since February 2023. China's March exports rose only a modest +2.5% from a year earlier, whereas their imports rose a startling +27.8%. Despite that, they has so much headroom they still managed to record a trade surplus of +¥355 bln / US$51 bln in March, although about half of what was anticipated. Yesterday, Singapore tightened their monetary policy in a new effort to ensure inflation does not ruin their economy. In Australia, consumer sentiment has dived lower. The Westpac-Melbourne Institute Consumer Sentiment Index fell heavily in April, falling by a level only exceeded in the depth of the pandemic. Australian business confidence has plunged dramatically as well. It fell -29 index points, the second largest monthly fall in the survey's history – with falls of this magnitude previously only seen in the GFC and the onset of the pandemic. Current conditions changed little, but the sentiment outlook has crashed pretty much in the same way consumer sentiment has. Forward orders fell. Costs rose +3.0% in the quarter, more than twice as fast as prices charged (+1.1%). So it will be little surprise to know that the RBA is worried, really worried. Australia faces a difficult macro backdrop. In a fireside chat, RBA Deputy Governor Andrew Hauser warned of the “nightmare” scenario where inflation accelerates even as growth weakens, complicating policy choices. He was speaking at a New York event. We all understand that the US abandoning its strategic role in the global economy means new alliances and connections will grow to replace them. But not all of those will be welcome. We should note that the Indonesian President is in Moscow, seeking a realignment with them. It is a balance from recent 'deals' with the US. The US Administration looks just like the Putin Administration to Jakarta. The IMF now says global inflation is expected to average 4.4% in 2026, up from their projected 3.8% in their January review. They also downgraded their global growth outlook, unsurprising given the mess we are all working through.. The UST 10yr yield is now just on 4.25%, down -5 bps from this time yesterday.  The price of gold will start today up +US$98 at US$4836/oz. Silver is up +US$4 at US$77.50/oz. American oil prices are down -US$7.50 at just on US$91.50/bbl, while the international Brent price is down -US$4.50, and now at US$94.50/bbl. The Kiwi dollar is up +50 bps from yesterday at this time at 59.1 USc. Against the Aussie we are up +10 bps at 82.8 AUc. Against the euro we are up +10 bps at just on 50.1 euro cents. That all means our TWI-5 starts today up +40 bps from yesterday at just on 62.5. The bitcoin price starts today at US$74,709 and up +3.4% from this time yesterday. Volatility over the past 24 hours has been moderate at just on +/- 2.8%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow.

US President Trump threatened massive military escalation if Iran deal terms are not met, vowed no nuclear weapons, and they are to secure the Strait of Hormuz.Iranian Deputy Foreign Minister said the Speaker of Parliament will lead Iran's delegation for the talks, and the exchange of messages continues via Pakistan, Al Jazeera reported.European bourses pull back as ceasefire begins to crack, Citi reinforces its OW stance on Banks; US equity futures soft.DXY firms on hawkish Fed Minutes, NZD continues to gain amid hawkish Breman.Fixed benchmarks pull back from highs, US PCE ahead. Crude nurses losses as ceasefire hopes wane while the IRGC announces a new Hormuz corridor.Looking ahead, highlights include US Initial Jobless Claims (Apr/04), PCE Final (Feb), GDP Final (Q4), Atlanta Fed GDP, NBP Policy Announcement, Banxico Minutes. Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Allbirds, the eco-chic footwear brand co-founded by former All White Tim Brown, has agreed to sell its 'intellectual property and certain other assets' to American Exchange Group. The brand will be sold for an estimated value of $68 million NZD - a fraction of the company's original net worth. NZ Herald senior business writer Chris Keall says the company's been in decline for years - with too many key factors going wrong. "The overarching thing is that it's never been able to make a profit, but it's making sustainable shoes from New Zealand merino wool and recycled materials - but not at a sustainable price." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Allbirds, the eco-chic footwear brand co-founded by former All White Tim Brown, has agreed to sell its 'intellectual property and certain other assets' to American Exchange Group. The brand will be sold for an estimated value of $68 million NZD - a fraction of the company's original net worth. NZ Herald senior business writer Chris Keall says the company's been in decline for years - with too many key factors going wrong. "The overarching thing is that it's never been able to make a profit, but it's making sustainable shoes from New Zealand merino wool and recycled materials - but not at a sustainable price." LISTEN ABOVESee omnystudio.com/listener for privacy information.

US Correspondent Dan Mitchinson joined Heather du Plessis-Allan to chat the latest news out of the USA. As the war with Iran continues questions over the likelihood of a peace deal remain, meanwhile, in California gas prices are quickly coming up to $6, $10 NZD, per gallon. And, controversy over Southwest Airline's 'fat tax' booms online. "They are singling out people that are overweight and they are forcing them to buy another seat," Mitchinson said. LISTEN ABOVE See omnystudio.com/listener for privacy information.

APAC stocks traded higher in continued thin conditions as many regional bourses remained closed for holidays.RBNZ kept the OCR at 2.25%, as expected, and the central bank refrained from any hawkish surprises; NZD heavily underperforms.US VP Vance said in some ways Iran talks went well, while he added that Iranians are not yet willing to acknowledge some of President Trump's red lines.US Special Envoy Witkoff said the US facilitated the trilateral meeting between Ukraine and Russia, while he added that Ukraine and Russia agreed to update leaders and pursue an agreement.European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.2% after the cash market finished with gains of 0.7% on Tuesday.Looking ahead, highlights include UK CPI (Jan), US Durable Goods, Industrial Production (Jan), Housing Starts (Nov/Dec), Atlanta Fed GDP, FOMC Minutes (Jan), US-Ukraine-Russia talks to take place (17-18 Feb). Speakers include ECB's Cipollone, Schnabel & Fed's Bowman. Supply from Germany & US. Earnings from Analog, Carvana, DoorDash, Booking Holdings, Moody's, Garmin, Glencore & Orange.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

As US markets returned from the holiday, volatility re-emerged across AI-linked equities. Europe showed resilience but commodities fell on easing geopolitics. In precious metals, volatility remains elevated due to thin trading during Asian hours amid the Lunar New Year holiday. Tim Gagie, Head of FX Advisory in Geneva, talks about what that means for gold and silver going forward and why dips in AUD and NZD are looking like an opportunity. A fast, lively breakdown of what's moving markets – tune in!(00:00) - Introduction: Lucija Caculovic, Product & Investment Content (00:34) - Markets wrap-up: Jan Bopp, Product & Investment Content (06:00) - FX & metals update: Tim Gagie, Head of FX/PM PB Geneva (10:21) - Closing remarks: Lucija Caculovic, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Labour's issued a list of demands for the Government before it will sign up to the Free Trade Agreement with India. Chris Hipkins says the FTA needs stronger safeguards against exploiting migrants. He wants the full official advice on the deal released to Labour. He says the Party's particularly concerned around the expectation Kiwi businesses will invest $33 billion in India over 15 years. "I think it's almost entirely impossible, and that's why I'm surprised that they're trying to sign us up to that. To put that into context, I think that over the last 25 years, less than $1 billion NZD has been invested in India." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Transparent, juicy, and zero gatekeeping—today I'm breaking down exactly how I made $270,000 NZD in 2025 across my digital products, brand sponsorships, client work, and more. But here's the twist: I made the same amount as last year… working way less and loving my business more than ever.This isn't just a numbers episode—it's the real story behind the pivots, risks, burnout, boundaries, and breakthroughs that shaped my most aligned (and surprising!) business year yet.If you're a freelancer, service provider, or digital creator wanting to build a freedom-first business without sacrificing income—this episode is your permission slip AND your game plan. Let's get into the data, the decisions, and the energetic shifts that changed everything.⏰ TIMESTAMPS
0:00 — Welcome to the 2025 Income Report1:28 — Total Income Breakdown (What I Made & From Where)2:55 — Digital Product Revenue Breakdown4:30 — Quarter 1: Burnout, Reset & Big Decisions10:20 — Quarter 2: Buying Out YouTube, New Coach & Engagement Bubble13:12 — Sponsor: How I Use Rella to Run My Business14:15 — Quarter 3: Brand Collabs, Mastermind Creation & Summit Results18:10 — Quarter 4: Momentum, Compounding Revenue & Consistency23:20 — Mackenzie Studios: Second Business25:45 — Final Reflections, CEO Lessons & 2026 Energy

European bourses attempt to move higher after initial pressure, US equity futures trade with modest gains.USD is flat, EUR and NZD manage to hold towards the top of the G10 pile.Global bonds pressured, Bunds hit on hawkish remarks via ECB's Schnabel, who said that she is 'comfortable' on bets that the next move will be a hike, albeit not any time soon.Crude benchmarks retreat despite a lack of drivers, XAU grinds higher and 3M LME Copper benefits after positive Chinese exports data, though Imports disappointed.Looking ahead, highlights include ECB's Cipollone, BoE's Taylor & Lombardelli, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Netflix is buying the studios of Warner Bros Discovery Netflix will also get HBOMax (but I can't see that sticking around long). Shareholders of WBD will get $23 in cash and $4.50 in shares of Netflix common stock, valuing the deal at $83 billion ($144 billion NZD). The TV networks that were part of the old Discovery company, plus the Warner Brothers networks like CNN, TBS, TNT, etc, are all moving to their own publicly listed company known at the moment as "Global Networks". This is of course all subject to regulators, not just in the USA but internationally too – Netflix already operates in 190 countries. NYT is suing AI startup Perplexity The suit alleges Perplexity has illegally copied and distributed The Times' copyrighted content, including stories, videos, and podcasts. It uses this content to formulate responses to user queries. The Times says the AI also generates outputs that are “identical or substantially similar to” The Times' content. Publishers have been suing new tech companies for a hundred years, starting with radio, TV, the internet, social media, and now AI,” said Jesse Dwyer, Perplexity's Head of Communication. “Fortunately, it's never worked, or we'd all be talking about this by telegraph.” Samsung launches the tri-fold phone Apple is a single screen phone, but there are rumours it's working on a foldable screen device to be announced next year. Samsung though says, 'hold my beer', and launches a tri-fold device with a 10 inch screen. That's in addition to the outer screen. Wild. If you want one, you'll need to buy it from Korea, China, Taiwan, Singapore, UAE, or the USA. The first-generation device won't be available in New Zealand. LISTEN ABOVE See omnystudio.com/listener for privacy information.

There is a single thread running through these lives and sayings, like a hidden vein of gold through rough stone. It is the fierce and terrifying command of Christ to love those who wrong us, to turn every injury into an open door to the Kingdom, and to see in every enemy the physician of our soul. In Saint Longinos we see what it means when love has completely displaced fear. He receives the men sent to kill him as honored guests. He feeds them, questions them gently, and when he learns they are to be his executioners, his heart does not recoil. He does not expose them, does not flee, does not calculate how to save his life. He rejoices. He calls them bearers of good things. He sees their swords as the keys that will unlock the true homeland, the Jerusalem on high. The hospitality he offers them becomes the doorway to his martyrdom, and his martyrdom becomes the consummation of that hospitality. He has so fully handed his life to Christ that those who come to destroy him are welcomed as friends. In Saint Theodora, there is a quieter, but no less burning, heroism. Those who envy her virtue set a trap for her and quietly send her into danger at night, hoping she will be devoured by beasts. God turns the malice back on itself. A wild animal guides her like a gentle servant and later nearly kills the doorkeeper, whom she then rescues, heals, and restores. When the superior asks who sent her into such danger, she protects her brothers and hides their sin. She will not expose them, even when the truth would justify her and reveal their cruelty. She bears their malice in silence and lets grace fall on those who had wished her dead. Her humility is as great a wonder as the miracle. Abba Motios shows us what reconciliation looks like in a heart that has allowed grace to ripen over time. He has been opposed, wounded, and driven away. Yet when he hears that the very brother who grieved him has come, he does not hesitate. He breaks down the door of his own hermitage in his eagerness to meet him. He prostrates, embraces, entertains, and rejoices in the one who had been the cause of his exile. The one who injured him becomes the occasion of his elevation to the episcopacy. The doorway to deeper sanctity is opened not by separation, but by reconciliation freely embraced. The conclusion is inescapable and sobering. To keep a grudge is to consent to spiritual death. To hold tightly to injury is to loosen our hold on Christ. Rancor darkens the mind, gives demons room to rest, and drives true spiritual knowledge away, like smoke driving out bees. Yet the same stories also breathe hope. Every wrong remembered can be turned into prayer. Every face that stirs distress can become the face for whom I beg mercy. Every memory of injury can be transformed into an occasion for thanksgiving, if I accept it as medicine from the hand of Christ. The elders tell me to send a gift to the one who insults me, to pray fervently for the one who harms me, to keep my countenance joyful when meeting those who speak against me, to refuse even the secret delight when misfortune falls on someone who has hurt me. This is not softness. It is crucifixion. It is the slow, deliberate choice to let Christ's mind and heart take shape in me, until I can look at those who betray me and say with truth: you are the cause of blessings for me. If I want to belong to Christ, then I must learn to see every enemy as a hidden benefactor, every wound as a gate, every slight as a purifying fire. The saints do not simply tell me to let go of resentment. They show me how far love can go, and how much is at stake. Between Longinos and those who killed him, between Theodora and her envious brothers, I am being asked to choose which heart will become my own. --- Text of chat during the group: 00:02:49 Fr. Charbel Abernethy: Volume II Page 317 Section C 00:03:37 Fr. Charbel Abernethy: Philokaliaministries.org/blog 00:08:36 Fr. Charbel Abernethy: Volume II Page 317 Section C 00:10:26 Fr. Charbel Abernethy: Volume II Page 317 Section C 00:11:21 Myles Davidson: Pope Leo visiting St. Charbel's tomb in Lebanon recently 00:11:29 Adam Paige: Reacted to "Pope Leo visiting St…" with

US President Trump thinks they are getting very close to a deal on Ukraine, while he separately commented that they are making progress and Ukraine is happy.European bourses are entirely in the green, with the FTSE 100 (+0.2%) trading cautiously ahead of the UK Autumn Budget; US equity futures are modestly firmer.DXY is essentially flat, NZD outperforms after the RBNZ cut rates by 25bps (as expected), but projections suggest a pause throughout 2026.JPY initially strengthened on reports that the BoJ is preparing markets for a possible hike as soon as December, although one of the sources noted that the decision between hiking in December or January remained a close call; JPY is now lower vs USD.Bonds are on the backfoot, paring recent upside; Gilts initially lagged, but now trading in-line with peers as traders eye Chancellor Reeves.Crude is a little lower as focus remains on Russia/Ukraine peace talks, 3M LME Copper surges.Looking ahead, highlights include US Dallas Fed (Oct), Jobless Claims (w/e 22 Nov), UK Autumn Budget, Fed Beige Book, Speakers including ECB's Lane & Lagarde, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks mostly followed suit to the gains on Wall Street, where stocks were underpinned amid Russia/Ukraine optimism and a softer yield environment.US President Trump thinks they are getting very close to a deal on Ukraine, while he separately commented that they are making progress and Ukraine is happy.Nikkei 225 shrugged off a source report that the BoJ is preparing markets for a possible hike as soon as December, although one of the sources noted that the decision between hiking in December or January remained a close call; JPY strengthened, 10yr JGB futures trickled lower.NZD outperformed after the RBNZ cut the OCR by 25bps to 2.25%, as expected, and kept its options open on future policy, although its projections suggested a pause in rates throughout 2026.White House National Economic Council Director Kevin Hassett is reportedly seen as the frontrunner in the Fed Chair search, according to Bloomberg citing sources, although separate sources said “there is no frontrunner”.Looking ahead, highlights include US Dallas Fed (Oct), Jobless Claims (w/e 22 Nov), UK Autumn Budget, Fed Beige Book, Speakers including ECB's Vujcic, Lane & Lagarde, Supply from Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Arrests have been made following last week's Louvre heist. Thieves stole an array of valuable jewels, worth $177million NZD, including a crown belonging to the wife of Napoleon III. Newstalk ZB reporter in Paris Catherine Field told Mike Hosking that the thieves arrested were not masterminds, and were known to police. 'They knew that these two were part of the gang, but they knew that they weren't the mastermind.' LISTEN ABOVESee omnystudio.com/listener for privacy information.

In this episode of Pushing the Limits, Lisa Tamati sits down with Brandon Bucher, the visionary CEO of Lightning Pay NZ, a company pioneering Bitcoin payment infrastructure and merchant solutions in New Zealand. Brandon shares his personal Bitcoin journey, what drew him into the ecosystem, and why he's deeply passionate about financial freedom, self-sovereignty, and decentralized money. Together, we unpack the macro forces shaping our economic landscape — from inflation and debt-driven systems to currency debasement and money printing — and why Bitcoin represents a viable alternative. We also dive into how the Lightning Network (Bitcoin's layer-two scaling solution) is enabling instant, low-cost payments, helping Bitcoin evolve from a “store of value” into a true medium of exchange. Brandon explains why layer-two and layer-three infrastructure are critical for scalability, usability, and global adoption — and how Lightning Pay NZ is making this future a reality for businesses and consumers alike. If you care about sound money, digital freedom, and building a fairer financial system, this episode will inspire you to rethink what money really means in the 21st century. Topics We Cover: Brandon's journey into Bitcoin and the Lightning ecosystem Why Bitcoin matters in an age of debt, inflation, and fiat instability The role of layer-two solutions like Lightning Network Why Bitcoin's base layer prioritizes decentralization and security — and can't scale alone How Lightning Pay NZ is helping merchants accept Bitcoin easily How Lightning Pay acts as both a Bitcoin exchange and POS (point-of-sale) system for real-world payments The macro outlook for global finance and how Bitcoin fits into it The philosophy of financial self-sovereignty and trustless systems   Connect with Brandon: Website: Lightning Pay NZ X (Twitter): @BTCNautilus Learn More: Check out Lightning Pay NZ, a payment gateway and exchange making it easy for New Zealand businesses to accept Bitcoin instantly using the Lightning Network, convert it to NZD if desired, and integrate seamlessly into existing POS systems. Brandon Bucher Bio: Brandon is a veteran product leader and a long time bitcoin enthusiast and now Co-Founder and CEO at Lightning Pay, a New Zealand based bitcoin-only financial services company. Brandon is passionate about shepherding in the emergence of bitcoin from its current reputation as a speculative investment asset to its rightful place as better money, used for saving, investment, borrowing and spending.  

Fundamentals vs Technicals – Which Drives Markets  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass #609: Fundamentals vs Technicals – Which Drives Markets In this video: 00:28 – Technical or Fundamental trading?. 01:05 – Example this week of why I am a technical trader. 02:40 – Interest rate announcement out of New Zealand. 04:07 – We profited from 5 Daily chart trades. 04:25 – Monthly Sell on the NZD/USD also hit the profit target. 05:44 – Brand New Forex Masterclass. 05:57 – Free 1 hour live Q&A Webinar. 07:06 – Blueberry Markets as a Forex Broker. 07:50 – Like, Share and Subscribe Which came first? The chicken or the egg? Or in trading terms, fundamentals or technicals? Who's the winner, and which came first, and which is most important? Let's talk about that more right now. Hey traders! It's Andrew Mitcham here, the owner of The Forex Trading Coach, with video and podcast number 609. Technical or Fundamental trading? So today really is the chicken-or-the-egg question. And as traders we look at all the technical charts, or we look at fundamental news events, or some people have a combination of both. Now, I'm certainly a technical trader. I'm going to share with you why I think that is the most important, but also I'm not saying that news is not important. It's just I think you need to develop, as a person, as a trader, and find out which one is best for you and why. Or maybe the answer is a combination of both. But I'm a technical trader. Example this week of why I am a technical trader. Now, here's a classic example. On Wednesday morning, my time, we were looking at the daily charts at the close of the Tuesday daily candle. And we do this every day, and we've done this for the past 16 years. So at the close of a daily candle at 5 p.m. New York time, we analyze the charts and we look at trades based off the daily charts for the new day. And if you go and look at the close of Tuesday's daily candle, you would see many New Zealand-related pairs all showing massive NZD weakness. And we identified five trades as specific trades based off the daily charts, based on that NZD weakness. And they were the NZD/USD, NZD/CAD, NZD/CHY, AUD/NZD, and GBP/NZD. Now, the last two have been Australian and Pound against the New Zealand. They were buys. The first three were sells, all looking for NZD weakness. So that's the technicals. We saw room to move for the profit target. We saw safety in our stop loss. And for what I look at and what we teach, we had everything setting up there as five excellent, high-quality trades off the daily charts. Now we come back to the chicken and the egg, and we come back to what was actually happening and why. Interest rate announcement out of New Zealand. Well, four hours into the new day, out of New Zealand here, we had interest rate announcements, and they were expected to drop the interest rate by a cut of 0.25, or 25 points. That was what Forex Factory and all the news sites were expecting. However, as a technical trader, I looked at the charts and not only did I see the New Zealand weakening, but I saw massive weakness coming. And for me, when I looked at that news event, I thought, I think this is going to be a bigger cut than expected. Now, whether it is or isn't doesn't really matter. It's more the fact that I could see maybe that 0.25 basis points already probably factored into the market, but the market was showing me a bigger drop was likely to come and therefore a bigger cut than what the economists were expecting. And that's exactly what we saw. So when it comes to the fundamentals, we did see a half-percent cut, which is a massive cut from 2.5 down to 2. You know, that's a big, big cut, and it's to stimulate the economy and, you know, things like that.

China's government announced export controls on rare earth materials.Hamas-Israel agreed to a Gaza ceasefire deal; conflicting reports whether the ceasefire is in effect, though the Israel Foreign Minister confirmed that it is.European bourses are mixed whilst US equity futures trade around the unchanged mark.DXY grinds higher amid continued NZD losses and a heavy GBP.OATs outperform as the odds of fresh legislative elections diminish, USTs await Fed speak.Crude benchmarks slightly higher despite Gaza ceasefire deal, XAU takes a breather.Looking ahead, New Zealand Manufacturing PMI, ECB Minutes (Sep), Eurogroup Meeting, Banxico Minutes, Speakers including, ECB's Lane, BoC's Rogers, Fed Chair Powell, Bowman, Barr & Kashkari, Supply from US, Earnings from Delta Air & PepsiCo.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks trade mixed with demand hampered following the negative handover from the US; European futures flat.RBNZ cut rates by 50bps and kept the door open to further rate cuts.US President Trump said a lot of things will be eliminated due to the shutdown, and he will tell us about the eliminated jobs in four or five days.USD remains on the front foot, NZD lags post-RBNZ, JPY digests soft real cash earnings data.Spot gold continued its advances, in which spot prices climbed above the USD 4,000/oz level.Looking ahead, highlights include German Industrial Output (Aug), Swedish CPIF Flash (Sep), NBP Policy Announcements, FOMC Minutes (Sep), BoE's Pill, ECB's Elderson & Lagarde, Fed's Musalem, Barr, Goolsbee & Kashkari, Supply from UK, Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

EU sees new US trade demands hollowing out deal struck by US President Trump, according to Bloomberg citing sources.European bourses are broadly firmer but with ASML (-1.7%) weighing on the AEX; US equity futures are modestly higher.USD continues to rally, boosted by a weak JPY and NZD; the Kiwi is the clear underperformer after the RBNZ delivered a jumbo 50bps cut and left the door open for more rate reductions.Global paper moves higher, OATs outperform, awaiting French PM Lecornu later.XAU topped the USD 4,000/oz mark, crude is continuing to rebound as China is set to re-enter the market tomorrow.Looking ahead, NBP Policy Announcements, FOMC Minutes (Sep), Speakers including BoE's Pill, ECB's Elderson & Lagarde, Fed's Musalem, Barr, Goolsbee & Kashkari, NVIDIA CEO Huang, French PM Lecornu, Supply from US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses and US futures are firmer into a quieter than initially scheduled session on account of the gov't shutdown, ES +0.3%.DXY underpressure, down to a 97.70 trough. JPY is the relative laggard after remarks from Ueda, NZD continues to climb.USTs await ISM Services, Bunds unreactive to PMI revisions and remarks from Lagarde re. Knot. Gilts are attentive to the OBR's first forecast round.Crude saw fleeting upside on Hamas asking for more time to consult on Trump's Gaza plan, XAU pauses for breath.Looking ahead, US Final Composite PMIs (Sep), ISM Services (Sep), ECB's Schnabel, Fed's Williams, Jefferson, BoE's Bailey.Due to the US government shutdown, the following data will not be released: US NFP (Sep).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

A massive hike in fees for a popular US work visa has some New Zealand job seekers panicking. US President Donald Trump announced that he is imposing a $170,000 NZD application fee for a particular skilled worker visa, a huge jump from the current fee that starts around $3,500. Co-Founder of Concord Visa, who helps New Zealander's with the US visa process, Kevin Park spoke to Lisa Owen.

European bourses are stronger today and trade just off highs; US equity futures also gain, with modest outperformance in the RTY.China drops Google (GOOG) antitrust probe during US trade talks, according to FTDXY trims some post-FOMC gains this morning; NZD plumbs the depths on GDP.Bonds are mixed in the aftermath of the FOMC; Gilts await the BoE.Crude is subdued and precious metals hold an upward bias.Looking ahead, US Jobless Claims, New Zealand Trade Balance (Aug), BoE Announcement, SARB Announcement, Speakers include ECBʼs Nagel, US President Trump & UK PM Starmer press conference. Earnings from FedEx & Lennar.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Mark Campbell has won this year's National James Dyson Award and taken home $11,000 NZD in prize money.

Guzman y Gomez’s shares have tumbled 18% after its sales growth falls short of its big expectations. Fonterra sells off its Mainland cheese and butter brands to the French dairy giant Lactalis in a $3.8 billion NZD deal. Inghams shares have taken a roasting as its profits slumped due to a breakdown in its relationship with Woolworths. _ Learn more about iShares by BlackRock here Download the free app (App Store): http://bit.ly/FluxAppStore Download the free app (Google Play): http://bit.ly/FluxappGooglePlay Daily newsletter: https://bit.ly/fluxnewsletter Flux on Instagram: http://bit.ly/fluxinsta Flux on TikTok: https://www.tiktok.com/@flux.finance —- The content in this podcast reflects the views and opinions of the hosts, and is intended for personal and not commercial use. We do not represent or endorse the accuracy or reliability of any opinion, statement or other information provided or distributed in these episodes.__ Issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523. Refer to FSG available on our website. Before making any investment decisions, you should assess whether the product or service is appropriate for you and read the PDS and TMD available at blackrock.com.au.See omnystudio.com/listener for privacy information.

With so much market noise and doom-filled headlines, you might be wondering — is now actually a good time to invest? In today's episode, we break down six compelling reasons why today could be the best day to start your investing journey.