NZ PM Luxon: Economic conditions are deteriorating

Market news

18 March 2024

NZ PM Luxon: Economic conditions are deteriorating

New Zealand’s (NZ) Prime Minister Christopher Luxon said on Monday that he is seeing a deterioration in economic conditions.

His comments come even as the country’s Business Performance of Services Index (PSI) improved slightly to 53.0 in February, as against a 52.2 reading in January.

Market reaction

The New Zealand Dollar shrugs off the downbeat remark from the PM, as NZD/USD advances 0.24% on the day to test the 0.6100 figure.

USD/CAD inches higher to near 1.3540, focus on Canadian CPI, Fed policy

Gold price drops to over one-week low amid reduced Fed rate cut expectations

Market Focus

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