Another huge disappointment in the ANZ activity outlook

FXStreet (Guatemala) - With a very weak commodity sector, especially in dairy products, the ANZ Business confidence for July came in even worse than last months that was the worst in four years, this time around we are at -15 while the previous was -2.3.

At the same time, the ANZ Activity Outlook for July was disappointing at +19 vs previous 23.6. This data leaves the kiwi exposed to further downside and doesn't go hand in hand with the recent bullish rhetoric from Wheeler when he spoke earlier in the week, bugging up the economy and negating the idea that further and deeper rate cuts were necessary.