Breakfast briefing: Gold resurgent at US Treasuries expense
Global economic shifts are seeing a move away from US Treasuries toward gold as a reserve asset, while crypto values decline. Meanwhile, New Zealand faces a trade deficit impact from lower dairy prices and China's reduced demand, alongside rising inflation in the EU.
Why it matters
These indicators signal a potential realignment in global financial reserves and highlight ongoing supply chain and inflationary pressures affecting international trade.
Here's our summary of key economic events overnight that affect New Zealand with news of a changing of the guard. Countries are moving away from US Treasuries as a core reserve asset, replacing it with gold. At the same time, crypto values including for bitcoin, seem to be fading fast.
The article provides a factual summary of economic data points across multiple regions without taking a political stance.
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