• NZD/USD reached to 27-month low at 0.5607 after the release of Gross Domestic Product data for the third quarter.
• New Zealand’s GDP shrank by 1.0% QoQ in Q3, against the expected 0.4% contraction.
• Fed’s Summary of Economic Projections suggested only two rate cuts in 2025, down from four cuts projected in September.

NZD/USD extends its losing streak for the third successive session following weaker-than-expected New Zealand’s Gross Domestic Product (GDP) data for the third quarter. The Kiwi pair declined to 0.5607, the lowest level not seen since October 2022, currently trading around 0.5640 during the European hours on Thursday.