The BusinessNZ Performance of Manufacturing Index in New Zealand was 55.0 in February, down from 55.1 in January, marking the first time since mid-2021 that activity recorded three consecutive months at 55.0 or higher. The result showed the sector expanding at a consistent rate, highlighting steady growth in the sector. All five sub-indexes were in expansion, led by New Orders at 57.6, followed by Production at 56.7, while Employment dipped to 50.4. Positive sentiment among manufacturers also improved, with 55.5% of respondents reporting favorable conditions, up from 47.7% in January but down from 57.1% in December. Growth was supported by more orders, enquiries, and sales, boosting export demand and conditions in certain sectors. Additional factors included a growing pipeline of work, a gradual improvement in business confidence, and steady activity levels.

New Zealand Factory Activity Expands for 3rd Month

USDTRY increased to an all-time high of 44.22. Over the past 4 weeks, US Dollar Turkish Lira gained 1.07%, and in the last 12 months, it increased 21.21%.

Turkish Lira Hits All-time Low

The Dow Jones Index dropped -739 points or 1.56 percent on Thursday to close at 46678 points. Losses were led by Goldman Sachs (-4.47%), Boeing (-4.29%) and 3M (-3.91%).

The Dow Jones Index Closes 1.56% Lower

The Ibovespa index plunged 2.6% to close at 179,284 on Thursday as geopolitical tensions in the Middle East drove oil prices back above 100 dollars per barrel. Investors retreated from risk assets following threats to shipping in the Strait of Hormuz and failed attempts by the IEA to stabilize energy supplies. In response to rising fuel costs the Brazilian government announced the elimination of PIS and Cofins taxes on diesel to cushion consumers. Sentiment remained fragile as February consumer prices exceeded expectations and stoked fears regarding the persistence of inflation ahead of the upcoming interest rate decision. Broad selling hit major sectors with banks falling over 2% and industrial names like Embraer recording double digit losses. While Petrobras shares saw modest gains the market continues to grapple with the economic uncertainty of a prolonged conflict that threatens to dampen growth and force a more cautious stance from the monetary authority.

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New Zealand Factory Activity Expands for 3rd Month

Turkish Lira Hits All-time Low

The Dow Jones Index Closes 1.56% Lower

Ibovespa Plunges Amid Risk-Off Mood