Ella 
NZD/USD continues to roughly consolidate between 0.6100 and 0.6180, with NZD/USD remaining within the December range.
New Zealand’s third-quarter gross domestic product (GDP) will be released in early trading on Thursday, but ahead of that NZD/USD will head into Wednesday’s Federal Reserve (FED) interest rate decision, while the broader market turns its focus to The outlook for the Federal Reserve’s interest rate policy.
The Federal Reserve will release its latest dot plot, its own forward-looking interest rate forecast, and global markets eager for a Fed rate cut “sooner rather than later” will be closely watching the dot plot to see whether the Fed’s interest rate outlook is in line with investor expectations. Markets currently expect the Fed to return to a rate-cutting cycle as soon as the end of the first quarter of 2024.
The Fed is widely expected to keep interest rates unchanged at 5.5% at its last interest rate meeting in 2023, but investors will pay close attention to the Fed’s monetary policy statement to understand the extent to which the Fed will lean towards a hawkish or dovish stance. .
New Zealand’s GDP is expected to be broadly weaker as the economy teeters on the brink of recession, with GDP expected to fall from 0.9% to 0.2% quarterly and from 1.8% to 0.5% annually.
