NZD/USD bulls ignore downbeat NZIER report near 0.6150, focus on New Zealand GDP, US inflation – by anilpanchal7 NZDUSD RiskAppetite GDP Fed Inflation
improves on early Monday. In doing so, the Kiwi pair pays little attention to the downbeat report from the New Zealand Institute of Economic Research .for the New Zealand economy but a downward revision for the subsequent two years,” per the March 2023 NZIER report. The think-tank also adds that annual average GDP growth is forecast to slow to 0.3 percent for the year to March 2024 before picking up to 1 percent in the following year.
Elsewhere, the risk profile benefits from the US regulators’ efforts to tame the financial market risks emanating from the Silicon Valley Bank and Signature Bank. That said, US Treasury Department, Federal Reserve and the Federal Deposit Insurance Corporation took joint actions to tame the risks emanating from the SVB and Signature Bank during the weekend.
It should be noted that the fears emanating from the SVB and Signature Bank drowned the US Treasury bond yields and the US Dollar the previous day, which in turn allowed the NZD/USD to remain firmer despite the risk-off mood.
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