Markets continued to shudder under the AI spectre. Market concerns regarding the over-valuation of AI has spread across the globe. This was the case also many years ago, when the dotcom crash happened. This may not reach those levels, but certainly trillions$$ have been invested in a short space of time, so the extent of the rebalance will be interesting to follow. The return to work of the US Government, may well reveal some very interesting economic data, that may point to a looming economic readjustment. The US Dollar has stabilised, with the EUR trading around 1.1600, while the GBP slipped back to 1.3150.Commodity currencies are also holding steady, with the AUD trading around 0.6550, while the NZD has crept back towards 0.5700. The NZ Business PMI pushed into positive territory Friday, which may be signs of ‘green shoots’, in the economy. This coming week will focus on an avalanche of economic data releases, including and finally, from the US.
