Friday 28th November 2025

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Thanksgiving might be a US celebration, but it seems Australia and New Zealand both have a lot to be thankful for, unless you were hoping for lower interest rates. NZ’s retail sales yesterday were higher than expected, and business confidence was also strong. In Australia private new capital expenditure was high – reminiscent of the mining boom early this century, says NAB’s Sally Auld. Meanwhile, equity and bond markets in the US were closed for Thanksgiving, and with an early close today it might be another quiet session to end the week. 

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