New Zealand's GDP has contracted again, prompting Adrian Orr, the Governor of the Reserve Bank of New Zealand (RBNZ), to suggest that the economy might shrink further in the future due to potential interest rate hikes to curb rising inflation.

The US Dollar Index (DXY) has seen increased buying despite a decrease in yields on US government bonds. Yields on the 2-year and 10-year US Treasury notes have fallen to 4.38% and 3.89%, respectively. The Federal Reserve (Fed) has signaled a possible interest rate cut in early 2024.

Austan Goolsbee, chairman of the Federal Reserve Bank of Chicago, warned that the market's expectations of rate cuts might be overly optimistic. Goolsbee also observed that if inflation remains stable, the Fed might reconsider lowering interest rates again.

The US real estate market is showing signs of recovery. However, there has been a slight decrease in construction permits. Investors are monitoring existing home sales and consumer confidence surveys to make investment decisions.