Equity markets closed up for the week, following reassuring inflation data from both sides of the Atlantic, although US PPI did send a couple of warning signals. US Retails Sales were positive, while the University of Michigan Economic Sentiment report, was slightly weaker than expected. US/Russian Peace talks in Alaska went very well, but no deal is forthcoming as yet. This coming week will be focused on inflation and growth, while the Jackson Hole Central Bank Symposium will be held later in the week. The US Dollar was softer to close out the week, with the EUR trading back to 1.1700, while the GBP hit 1.3550.The weaker reserve allowed the AUD to regain 0.6500, while the NZD holds above 0.5900. The NZ markets will be keenly awaiting the latest RBNZ rate decision and they are expected to follow the RBA, cutting rates 25 basis points. The Fed will be in focus all week, with the Jackson Hole Symposium, ‘Too Late’ Powells last.
