ANZ Macro Daily(Beta Mode)
AUD Gains on RBA Hawkishness
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| ASX 200 | 8,938.30 | -0.17% |
| NZX 50 | 12,912.56 | -0.02% |
| AUD/USD | 0.72 | +0.47% |
| NZD/USD | 0.59 | +0.68% |
| AUD/NZD | 1.21 | -0.17% |
| BHP | 55.92 | +0.00% |
| Gold | 4,816.50 | -0.85% |
| Brent Crude | 95.05 | +5.17% |
| Bitcoin | 75,660.99 | +2.44% |
| Australia 10Y Govt Yield | 4.90% | +2.98% |
| NZ Short-term Rate | 4.33% | -9.60% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| Inflation Rate Quarter-over-Quarter | 0.60 | 0.80 | 0.90 |
AU vs NZ Policy Rates | Type: macro_line | AU 10Y Yield: 4.9 (2026-03-01) | Range: 1.135–4.9 | Trend(6pt): 1.66,3.429,4.211,4.544,4.75,4.9
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| S&P Global Manufacturing PMI Flash | 49.80 | - | 15:00 |
| S&P Global Services PMI Flash | 46.30 | - | 15:00 |
- New Zealand's Q1 inflation hit 0.9% QoQ, topping consensus of 0.8% and signaling sustained price pressures.
- AUD and NZD rose versus USD on risk rally and RBA tightening bets.
- Brent crude soared 5.17%, aiding commodity stocks despite small ANZ index declines.
Yesterday's Recap
New Zealand's inflation rate for the first quarter registered at 0.9% quarter-over-quarter, surpassing the consensus of 0.8% and the prior 0.6%, underscoring persistent inflationary pressures in the economy. Australia's ASX 200 closed at 8,938.30, down 0.17% amid varied sector results, while New Zealand's NZX 50 finished at 12,912.56 with a marginal 0.02% drop, indicating cautious market mood. The AUD/USD pair climbed 0.47% to 0.72, propelled by risk appetite and hawkish RBA outlook, while NZD/USD increased 0.68% to 0.59, lifted by commodity gains.
AUD/NZD declined 0.17% to 1.21, showing NZD's relative strength. BHP shares remained flat at 55.92 with no change, consistent with steady mining views despite gold's 0.85% fall to 4,816.50. Brent crude rose sharply by 5.17% to 95.05, bolstering energy-related assets in Australia.
ANZ markets demonstrated resilience in volatile global conditions, with currencies advancing on US-Iran de-escalation prospects.
The Day Ahead
Australia's S&P Global Manufacturing PMI Flash is scheduled for release at 15:00 ET on April 22, after a previous 49.8, with no consensus yet; a reading below 50 would indicate continued sector contraction. The S&P Global Services PMI Flash for Australia follows at the same time on April 22, post last month's 46.3, which could reveal service industry strains from elevated rates. These indicators are vital for assessing Australia's economic pace, particularly its commodity exports.
No significant New Zealand releases are set, shifting attention to Australian data. Markets could respond to deviations, affecting RBA policy bets. ANZ calendar is otherwise quiet, with eyes on commodity trends.
Other Economic Notes
Australia's economy confronts stagflation risks as noted by RBA, with enduring inflation and possible growth drags from Middle East conflicts affecting oil flows. New Zealand's dairy exports may gain from steadying global demand, but tourism rebound is at risk from currency appreciation. Housing sectors in both nations are rate-sensitive, with Australia's real estate facing strains from borrowing expenses.
