New Zealand Q2 business confidence collapses further, to -44% (prior -25%)

New Zealand Institute of Economic Research (NZIER) quarterly survey of business opinion

• 44% of firms surveyed expected general business conditions to deteriorate compared with 25% pessimism in the previous quarter
• net pessimism has been shown in the results of this survey since the third quarter of 2021

High
interest rates in NZ continue to dampen demand.

NZD/USD bids getting given, not a large move:

The bigger picture was the NZD decline, alongside other FX vs. the USD, overnight.

This article was written by Eamonn Sheridan at www.forexlive.com.