Ella 
In early Asian trading on Thursday, the New Zealand dollar/US dollar recovered its recent losses. NZD/USD rebounded from multi-week lows of 0.6088 and rebounded above the 0.6100 mark. NZD/USD upside potential may be limited. NZD/USD is currently trading around 0.6127, up 0.28% on the day.
U.S. retail sales in December were stronger than expected, which may convince the Federal Reserve to delay cutting interest rates. Data from the U.S. Department of Commerce’s Census Bureau showed that retail sales increased by 0.6% on a monthly basis last month and by 0.3% in November, higher than expectations for a 0.4% increase. On Tuesday, Federal Reserve Governor Christopher Waller said the central bank will be able to lower the target range for the federal funds rate this year, but it should do so in an orderly and cautious manner.
Market participants will focus on U.S. housing starts, building permits, U.S. initial jobless claims last week and the Philadelphia Fed manufacturing index due later on Thursday. The U.S. Michigan Consumer Confidence Index will be released on Friday. New Zealand’s Consumer Price Index (CPI) will be released next week. Traders will take cues from this data and look for NZD/USD trading opportunities from it.
