New Zealand just dropped a bullish economic signal: manufacturing PMI jumped to 56.1 from 51.4. That's a solid expansion move.

Here's why this matters—PMI above 50 signals manufacturing growth, so this uptick suggests the Kiwi economy is picking up steam. When developed markets show strength, it typically filters through to risk assets. Crypto traders often track these macro signals because they correlate with capital flows and overall market sentiment.

The jump from 51.4 to 56.1 isn't massive, but it's a clean uptrend. It points to manufacturers gaining confidence, which can ease inflation concerns and potentially keep central banks from being too aggressive with rate hikes. Fewer hikes = better conditions for assets like Bitcoin and Ethereum that thrive in lower-rate environments.

Not saying this single data point moves markets, but it's part of the mosaic. When economies across different regions start showing coordinated strength, that's when risk appetite tends to rise. Worth keeping on the radar if you're thinking about macro positioning.