New inflation data out of the US overnight New Zealand time drove down US markets which then later soared, all before NZ investors had managed to drink their first coffee of the day.

The New Zealand market ended the day in the red as cautious investors wait to see what the US consumer price index (CPI) data says about inflation tomorrow.

Tourism Holdings surprised New Zealand’s market with new earnings guidance that pushed the company’s shares up by almost 7% and gave the index a boost as investors wait to see what’s revealed in new inflation data out of the US later this week.

New Zealand’s market perked up a little today after yesterday’s sharp decline of 1.7%, but investors are still hanging back to see what the economic tea leaves reveal in US data this week.

Pushpay surprised New Zealand’s market with a late trading halt this afternoon before revealing the software company had received another “non-binding proposal” that it was continuing to assess.

New Zealand shares gave up a short-lived rally on Friday, falling ahead of the release of important employment data over the weekend.

After two days of Australasian monetary hikes, New Zealand’s market was still very much in an interest-rate frame of mind today, with added volatility from US markets overnight edging the market down by the end of the day's trading.

The Reserve Bank of New Zealand (RBNZ) decided not to rock the boat and followed market expectations with a 50 basis point lift to the official cash rate by this afternoon – noting however it considered a 75-bps lift.

The Reserve Bank of Australia (RBA) has hiked rates by an expected 25 basis points, lifting its official cash rate to 2.6%, with the RBA governor warning that the central bank expects to increase interest rates further in the foreseeable period.

New Zealand’s market faltered as bond yields rose globally and investors wait nervously to see how much the Reserve Bank of NZ (RBNZ) and Reserve Bank of Australia (RBA) will be hiking interest rates this week.

It’s been an eventful week for New Zealand’s market which was closed on Monday for the Queen Elizabeth Memorial Day holiday and then spent the rest of this week being bounced around by the tidal forces of global currencies.

New Zealand’s market rose today after battling several days of currency turmoil, with export stocks pulling the index into positive territory.

Global markets drove weak sentiment into New Zealand’s market for a second day this week, with property stocks dragging the local market down further due to high swap rates.

New Zealand’s market was closed yesterday for the Queen Elizabeth Memorial Day holiday but fell almost 2% today due to global volatility from stock and foreign exchange markets.

New Zealand’s market edged lower today but held up well compared to international markets, especially in response to the Bank of Japan’s surprise intervention to help its sinking currency.

It was action stations across domestic and international markets today, with the US Federal Reserve (the Fed) deciding on a 75 basis-point interest-rate hike this morning, an announcement which sent the New Zealand dollar plummeting to its lowest point since March 2020.