NZD/USD maintains a position above 0.5850 despite the upbeat US Dollar. Israel's delay in the ground assault plan in Gaza contributes support to the risk-on sentiment. China's updates appear to be influencing market sentiment positively. US Dollar received upward support on stronger PMI figures. ith the postponement of Israel's ground assault plan in Gaza contributing support to the pair.
However, the downfall in US Treasury yields could provide downward pressure for the US Dollar , with the 10-year yield standing at 4.81%. US S&P Global Composite PMI exhibited growth in October, rising from 50.2 to 51.0. The Services PMI also saw an increase, reaching 50.9, and the Manufacturing PMI rose to 50.0. This marks the first time in the last six months that manufacturing has sustained a level above the 50-point threshold, signaling a positive shift in that sector.