Asia FX Weekly Gains Hold Amid U.S. Inflation Data and Iran Ceasefire Uncertainty 
Federal Reserve Probes Big Banks Over Private Credit Exposure Amid Growing Systemic Risk Concerns 
U.S. Futures Dip as Iran Ceasefire Faces Early Challenges 
Asian Markets Retreat as Gulf Crisis Fuels Oil Surge and Inflation Fears 
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New Zealand’s ANZ Truckometer Heavy Traffic Index fell 0.3 percent m/m in March, to be down 0.7 percent for the quarter. This isn’t a strong signal for GDP growth, but the index has been volatile lately.
On the other hand, the Light Traffic Index bounced 2.2 percent m/m, after a few months of fairly lackluster performance. This index is giving a softer signal for growth from mid-year, but the bounce-back is encouraging.
Meanwhile, the 3- month average of the Light Traffic index has now stabilized but is sending a softer signal for GDP growth mid-year.
"We will keep an eye on this data. The correlation to GDP growth has not been close lately. In addition, annual growth remains strong. However we have seen a marked deceleration in recent months that bears watching," ANZ Research commented in its latest report.
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