NZD/USD REMAINS BELOW FIVE-MONTH HIGHS NEAR 0.5950
NZD/USD REMAINS BELOW FIVE-MONTH HIGHS NEAR 0.5950
The NZD/USD pair has retreated from its five-month high of 0.5945, trading around 0.5920 during Thursday's European session.
This decline follows a six-day winning streak and is attributed to a modest rebound in the US dollar.
The US dollar gained traction after stronger-than-expected consumer spending data, which bolstered expectations of continued economic growth in the United States.
Investors are closely monitoring the upcoming US jobless claims data, scheduled for release later today.
A lower-than-expected number could further support the US dollar and apply downward pressure on the NZD/USD pair.
The Reserve Bank of New Zealand (RBNZ) has maintained a restrictive monetary policy, with the Official Cash Rate (OCR) held at 5.5%.
This stance continues to provide support to the New Zealand dollar, although recent US economic data has led to a temporary pullback in the NZD/USD pair.
