NZD/USD remains below five-month highs near 0.5950, US Jobless Claims eyed
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NZD/USD edges lower as the US Dollar strengthens on the back of robust consumer spending data. US Retail Sales jumped 1.4% in March, surpassing both the prior month’s 0.2% rise and expectations of a 1.3% increase. New Zealand’s Q1 CPI came in hotter than expected, rising 2.5% YoY—above the 2.3% forecast. NZD/USD breaks its winning streak that began on April 9, slipping to around 0.5920 during Thursday’s European session. The pair remains subdued near its five-month high of 0.5945 level as the US Dollar gains traction, supported by stronger-than-expected consumer spending data. US Retail Sales rose 1.4% in March, exceeding both the previous month’s 0.2% increase and the market consensus of 1.3%. Investors now turn their focus to upcoming US economic data, including Building Permits, Housing Starts, the Philly Fed Manufacturing Index, and weekly Initial Jobless Claims. The Greenback also found support from hawkish remarks by Fed Chair Jerome Powell, who reiterated the economy remains “solid” and that the Fed can afford to wait for clearer signals before shifting policy. He cited near-maximum employment and inflation slightly above the 2% target as reasons for a patient approach. However, NZD/USD may find a floor as the Kiwi draws strength from hotter-than-expected inflation figures. New Zealand’s Q1 CPI rose 2.5% YoY, beating forecasts of 2.3% and accelerating from 2024 Q4’s 2.2%. On a quarterly basis, CPI climbed to 0.9%, also surpassing expectations of 0.7% and the previous reading of 0.5%. New Zealand Dollar FAQs The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the…
Filed under: News - @ April 17, 2025 9:26 am