US equities traded higher overnight and assisted a US Dollar fightback as economic data suggested the economy remained resilient in the face of tariff uncertainty. The USD making broad gains vs the G10 currencies backed by US manufacturing and service sector results were both higher than consensus.NZD/USD traded back below .5900 and NZD weaker against the pound but otherwise little changed on the other major cross rates. NZD/EUR .5205 and NZD/AUD .9175. Local news focused on the NZ Budget as Willis released a fiscally conservative budget with some clear winners(businesses big and small, learning support and private schools) and some losers(low-paid women, the national broadcaster and parents of unemployed teenagers).Friday market focus turns to NZ Retail Sales, UK Retail Sales and Consumer Confidence and German GDP.
