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Collinson’s remains operational as normal during NZ Level 4 Lockdown. Please contact your dealers via Phone, email, text or via our app

Daily Market Commentary 10th August 2021

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Markets fell from record highs last week, which was triggered by the better than expected, Non Farm Payrolls number. Fears are rising over global growth and economic recovery, amidst surging virus numbers, despite massive vaccine uptake and weaker demand. Oil prices have slumped to below $66/barrel, as commodities reflect the weaker sentiment. The associated currencies are suffering this, with the NZD falling below 0.7000, while the AUD slipped to 0.7330.

US Consumer Inflation came in at 4.8%, confirming recent CPI and PCE numbers, while German Trade improved with rises in both Exports and Imports. Chinese inflation is starting to show signs of growth, despite the technical measures, while PPI has swollen to 9.0%. The US Dollar remains steady, with the EUR trading 1.1740, while the GBP holds below 1.3900.

Inflation, demand and the virus remain the market focus this week.

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