New Zealand data: ANZ Commodity Price Index for April 2024: +0.5% m/m (prior -1.3%)

In New Zealand dollar terms, the index gained 2.7% m/m as the NZD Trade Weighted Index fell 1.0%.

As part of the report are comments from ANZ on shipping prices:

• Global shipping prices generally softened a little through April as easing
  demand is offsetting ongoing restrictions in key shipping channels.
• Slowing
  global economic activity has curbed demand for goods, easing pressures in
  the shipping industry. There has also been an increase in the number of
  ships sailing, which has helped offset the longer delivery routes as ships
  avoid the Suez Canal. Indeed, traffic through the Suez Canal is less than
  half what it would normally be, whilst Panama Canal numbers are back by
  about a third.

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