NZD/USD trimmed Thursday's gains, stumbles below 0.6400 – by christianborjon NZDUSD Majors Currencies
ange during the last week’s. Positive US consumer sentiment readings proved to be harmful to the American Dollar , which will end the week on a lower note. At the time of writing, the NZD/USD spot price is 0.6389, slightly down by 0.03%.Wall Street held to its gains as the week came to an end. The release of US inflation data on Thursday was cheered by investors and spurred hopes for slower rate hikes by the US Federal Reserve , weakening the US Dollar .
The University of Michigan Consumer Sentiment survey showed that sentiment improved, exceeding expectations of 60.5, coming at 64.6. Meanwhile, Americans’ inflation expectations for one year were revised to 4% from 4.4% in December, while for a five-year horizon, inflation is estimated to reach 3% from 2.9% in the previous month., which measures the buck’s performance against a basket of six rivals, erases its earlier gains, down 0.06%, at 102.184.
On the flip side, if the NZD/USD reclaims 0.6400, that could set the pair poised to test December 2022 high at 0.6513.
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