The NZD/USD pair has pulled back from its five-month high of 0.5945, now trading around 0.5920 during European hours. This decline breaks the winning streak that began on April 9. The recent strength in the US dollar, driven by better-than-expected consumer spending data, plays a vital role in this movement. As traders anticipate imminent jobless claims data, volatility may increase. Keeping close watch on these figures will help investors navigate this currency pair effectively as market conditions evolve.