Market optimism buoys the Kiwi
Before the Christmas holiday, the US Bureau of Economic Analysis announced that the Personal Consumption Expenditures Price Index (PCE) rose by 0.2% in monthly terms, while the year-to-year indicator fell from 5% to 4.7% in October. Despite the fact that the values for each indicator met expectations, they were met with reserved market optimism that is holding consistent and is supporting commodity values, including the New Zealand dollar.
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