NZD/USD stops the bleeding, recovering towards 0.5850

At the beginning of the week, the NZD/USD increased towards 0.5850, as the pair seems to be facing a period of consolidation after losing more than 1%

The NZD/USD consolidated losses and rose nearly 0.40% to 0.5850. Markets will remain calm on Monday with no relevant highlights on the economic calendar. US economic activity data, including S&P PMIs from October, Q3 GDP and PCE inflation from September figures, will be the week’s highlight. At the beginning of the week, the NZD/USD increased towards 0.5850, as the pairseems to be facing a period of consolidation after losing more than 1% last week.

However, high-tier economic figures released this week will continue shaping the expectations on the Fed’s next steps and set the pace of the USD’s price dynamics in the next sessions.

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