NZD/USD snaps its three-day winning streak, depreciating to near 0.5990 during the Asian hours on Thursday.
NZD/USD loses ground on softer Kiwi data released on Thursday. ANZ – Roy Morgan Consumer Confidence fell to 86.4 in February from 94.5 prior. US GDP Annualized is expected to remain consistent at a 3.2% increase in Q4. The New Zealand Dollar faces challenges due to the softer-than-expected domestic key economic figures, which in turn, undermine the NZD/USD pair. ANZ – Roy Morgan Consumer Confidence decreased to 86.4 in February from 94.5 in the prior month.
The US Dollar shows subdued momentum as investors await the release of Gross Domestic Product Annualized data for the fourth quarter of 2023 from the United States on Thursday. Furthermore, Personal Consumption Expenditures for February on Friday. The US Dollar Index hovers around 104.30. US Treasury yields rebounded after losses in the previous two sessions, supporting the US Dollar. Market participants are eagerly awaiting guidance from the Federal Reserve on its interest rate trajectory.
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