Ella 
During the Asian session on Friday, NZD/USD showed a positive trend and was trading around 0.5960. Risk-sensitive currency NZD/USD found support as risk appetite improved. However, the pair pared some of its intraday gains as the US dollar (USD) rebounded.
The U.S. Dollar Index (DXY), which measures the greenback against six major currencies, was higher near 105.70, but its gains may be capped by a downward correction in U.S. Treasury yields, leading to a weaker dollar.
On Thursday, preliminary data from the United States was mixed, weighing on the dollar. The annualized growth rate of U.S. gross domestic product in the first quarter was 1.6%, lower than market expectations of 2.5%, and the previous value was 3.4%. This slowdown suggests that various sectors of the economy may face headwinds or slowdowns.
However, U.S. consumer prices showed resilience, with the personal consumption expenditures (quarterly) price index rising at an annualized rate of 3.7% in the first quarter. It was higher than market expectations of 3.4% and the previous value of 2.0%, indicating that inflationary pressure is widespread and may affect the Federal Reserve’s (Fed) monetary policy decisions.
In terms of kiwifruit, the ANZ-Roy Morgan consumer confidence index for April, released on Friday, fell to 82.1 from the previous value of 86.4. This is the lowest level since 2008. Despite the decline, consumer confidence in New Zealand remains relatively high. Separately, Statistics New Zealand reported a trade surplus in March, driven by exports hitting a 10-month high and imports falling to a 2-month low. The decline in imports reflects a weakening economy as households and businesses grapple with the impact of higher interest rates.
