NZD/USD prods yearly low near 0.6050 as RBNZ confirms easy LVR restrictions, US data eyed

RBNZ’s Deputy Governor Christian Hawkesby confirms easing of LVR restrictions, NZ Consumer Confidence stays flat in May.Slew of US statistics ahead to entertain Kiwi pair traders, US debt ceiling headlines are the key.

"The risks to financial stability posed by high-LVR lending have reduced to a level where we believe the current restrictions may be unnecessarily reducing efficiency," said RBNZ Deputy Governor Christian Hawkesby while announcing the easing on the Loan-to-Value Restrictions . Elsewhere, the second estimation of the US Annualized Gross Domestic Product for Q1 2023 was revised up to 1.3% versus 1.0% first forecasts. Further, the Chicago Fed National Activity Index for April improved to 0.07 from -0.37 prior and -0.02 market estimations. On the same line, Kansad Fed Manufacturing Activity improved to -2 for May compared to -21 previous readings and analysts’ estimations of -11.

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