• NZD/USD moves on a downward trajectory after the stronger US GDP figures.
• Traders await US PCE data to gain cues regarding the Fed’s policy decision in March’s meeting.
• NZD could gain ground as Kiwi consumer inflation remains above the RBNZ target range of 1.0% to 3.0%.

NZD/USD moves downward to near 0.6100, extending its losses for the second successive day during European hours on Friday. The stronger United States (US) GDP Annualized provided support for the US Dollar (USD), which in turn, undermines the NZD/USD pair.

Market participants are expected to closely monitor the upcoming release of the Personal Consumption Expenditures (PCE) Price Index data on Friday. This data will provide insights into US economic conditions, influencing considerations for the Federal Reserve’s (Fed) policy decision in the March meeting. Besides, the markets have already factored in the probability of no policy adjustment by the Fed in the upcoming meeting on January 31.