NZ Growth Contracts, NZD Drops; Fed Outlook Weighs on USD; Key Data Ahead Could Sway NZD/USD
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New Zealand's Q3 GDP contracted by 0.3% quarterly, missing forecasts and weighing on the NZD.
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The Fed kept interest rates steady but projected 3 hikes in 2023, leading to a drop in the USD.
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Traders will focus on upcoming US jobless claims and retail sales data.
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The NZD/USD remains capped below 0.6200 resistance following the weak NZ growth data.
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Key events ahead include New Zealand PMI, US retail sales, and S&P Global PMIs which could influence NZD/USD.