UK tightening up employment norms for NZ and Australians - ANZ

The research team at ANZ notes that there were news reports overnight that UK Prime Minister May will make it more difficult for New Zealanders and Australians to find and keep jobs in the UK, and will also charge them to access the National Health Service.

Key Quotes

“It’s a natural response to the anti-immigration populist vote. It will likely add another couple of thousand to New Zealand’s already booming migration figures, which show few signs of waning. In fact, they are set to be boosted by other countries (including Australia) making it less attractive for New Zealanders to up sticks.” 

US: Strong reading of Philly Fed Survey points to strong economic momentum - Nomura

Analysts at Nomura note that the US headline Philly Fed index rebounded strongly to 38.8 in May from 22.0 in April, above expectations (Nomura: 22.0,
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Netherlands, The Consumer Confidence Adj fell from previous 26 to 23 in May

Netherlands, The Consumer Confidence Adj fell from previous 26 to 23 in May
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