Global economic trends show rising interest rates and shifting commodity markets

Global economic indicators show a trend of rising interest rates and shifting commodity markets. In New Zealand, the dairy market is experiencing unusual movement where Skim Milk Powder (SMP) prices have exceeded Whole Milk Powder (WMP) prices, a rarity in recent decades. Local meat prices are being pushed higher by strong international demand.

On the international stage, the US Federal Reserve is expected to make a key rate decision, with markets pricing in a high probability of a hike due to persistent inflation. In Japan, the central bank is reviewing rates, and China is expected to release new lending data following recent declines. Additionally, Brent Crude oil prices have seen increases amid geopolitical tensions in the Middle East.