Ella 
NZD/USD is currently trading at 0.6085, down 0.25% on Thursday. In terms of data, there were no surprises in U.S. personal consumption expenditures, but market expectations are consistent with the Federal Reserve’s (FED) easing policy forecast of 75 basis points in 2024, which is good for the dollar.
On Thursday, the U.S. Bureau of Economic Analysis released a report saying that U.S. inflation, measured by the annual rate of change in the personal consumption expenditures (PCE) price index, rose by 2.4% in January, which was slower than the 2.6% in December and in line with market expectations. The monthly rate of the US PCE price index in January was 0.3%, exactly in line with expectations. Excluding the two more volatile sectors of food and energy, the core PCE price index annualized at 2.8%, in line with market expectations.
Regarding expectations, the market appears to have given up on hopes of a rate cut by the Fed in March or May, instead pushing the start of the easing cycle to June, which appears to be driving NZD/USD lower.
