Ella 
NZD/USD fell in early Asian trading on Thursday. NZD/USD retreated from a one-week high of 0.6149 to hover around 0.6110. Investors will take cues from Thursday’s release of preliminary U.S. fourth-quarter gross domestic product, U.S. initial jobless claims last week and durable goods orders.
The U.S. Composite Purchasing Managers Index for January came in stronger than expected at 52.3, compared with the previous reading of 50.9. The services PMI rose to 52.9 from 51.4 previously, better than expectations for 51.0. The manufacturing PMI rose to 50.3 in January from 47.9 in December, crossing 50 for the first time in three months.
In terms of the New Zealand dollar, New Zealand’s consumer price index fell to an annual rate of 4.7% from 5.6% in the fourth quarter, in line with expectations. The core consumer price index, which excludes food, fuel and energy, fell to 4.1% from the previous reading of 5.2%. New Zealand inflation slowed in the final three months of 2023, but not enough to prompt the Reserve Bank of New Zealand to seriously consider cutting interest rates soon.
Later on Thursday, the preliminary annual rate of U.S. fourth-quarter gross domestic product (GDP) will be released, and is expected to grow by 2.0%. In addition, Thursday will also release the number of Americans filing initial jobless claims last week and durable goods orders.
