NZDUSD Stabilizes Below 0.5650 as Market Awaits US PCE Data
NZDUSD recovered its daily losses, trading around 0.5640 during early European hours on Friday. This recovery halts a streak of losses but brings challenges from the strengthening US Dollar (USD). The market remains cautious as traders await the upcoming US Personal Consumption Expenditures (PCE) data, a critical indicator for gauging inflation and consumer spending. Insights from the PCE data will likely influence currency dynamics, especially for the NZDUSD pair. With the US dollar gaining strength, traders must navigate these complexities as they devise their trading strategies.
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