The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* NZ Business Confidence falls hitting -54%, lows not seen since 2008
– 54% of respondents expect Business Conditions to deteriorate in the year ahead
– Business Own Activity fell for the fourth month in a row to 2009 levels
– 50bps rate cut clearly having no impact and it’s time the Government actually did something
– Oh I forgot, they are planning to set up new regional banking initiatives