The New Zealand Dollar fell to session lows after US jobless claims rose above forecasts, while key local economic data awaits release.
NZD/USD declined 0.4% on Thursday, closing at fresh daily lows near 0.5916 as bearish momentum accelerated. The pair remained range-bound, failing to retest its early-March peak of 0.6120 amid thin domestic catalysts.
The move followed US economic data, where April Retail Sales met expectations at 0.5% MoM, but Initial Jobless Claims rose to 211K, exceeding the 205K consensus. New Zealand’s April Manufacturing PMI, Q1 PPI, and China’s Industrial Production and Retail Sales data are due in the coming days, adding to near-term volatility.
Markets now focus on next week’s FOMC Minutes and University of Michigan inflation expectations, with the prior 4.5% print likely to influence sentiment. Fed officials, including New York Fed President John Williams, delivered remarks during the session.