Explore the latest developments concerning The Week Ahead:.
The Week Ahead: NZ CPI, Tesla Earnings, Global PMIs
Corporate earnings from Tesla, Alphabet, Intel, and GE Vernova are likely to dominate markets this week, keeping the AI trade firmly in the headlines. However, inflation and global growth data could still prove important, especially given the dollar's resurgence, which has already pushed the yen to levels not seen in decades, and strengthened the case for central banks to tighten policy.
New Zealand’s Q2 CPI is expected to show a notable rebound in inflation, with Westpac forecasting a +1.5% quarterly rise (taking the annual rate to 4.1% from 3.1%), the highest in two years — close to the RBNZ’s 3.9% projection. The spike is primarily driven by surging fuel prices (petrol +20%, diesel +51% q/q amid Middle East tensions), alongside higher household energy and food costs, while non-tradables remain firm at +0.6% q/q (annual 3.4%) due to administered prices. Core measures are softening but still sit above the RBNZ’s 2% midpoint target, raising concerns about spillovers into broader prices despite soft demand and labour market conditions. A hotter-than-expected print could support the NZD/USD by tempering rate-cut expectations, while a softer core reading would weigh on it by reinforcing easing bets.
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