European and US equity markets continued to drift lower, off record highs, reflecting soft economic data points. European and US PMI data was softer than expected and inflation remains stubbornly high, preventing further downward pressure on interest rates. The Fed Chairman Powell was also in the mix, talking overheated share markets. The USD Dollar recovered further strength, as the EUR slipped back to 1.1730, while the GBP fell to 1.3450.Australian inflation heated up, spiking back to 3%, much higher than expected. This will dampen any enthusiasm the RBA has for further rate cuts, as the AUD slipped to 0.6580, while the NZD retests 0.5800. The failed NZ Finance Minister decided it was high time to appoint a foreign RBA Governor, to replace the most woke and worst Governor, in NZ history. Time will tell, but credentials point to a globalist, WEF automaton.
