News Formal

NZD/USD moves below 0.6000 after the release of Business NZ PMI

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 25 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 72%

NZDUSD News

Majors,Macroeconomics,Newzealand

NZD/USD has halted its two days of gains, trading around 0.6020 during the Asian session on Friday.

NZD/USD retreated after the data showed the manufacturing sector had been in contraction for 14 consecutive months. The Business NZ Performance of Manufacturing Index improved to 48.9 from March's 46.8, yet remained below February's level of 49.1. The lower US Treasury yields may put pressure on the US Dollar. The New Zealand Dollar received pressure after the release of the Business NZ Performance of Manufacturing Index , gauging business activity in New Zealand’s manufacturing sector.

However, the Greenback faced a challenge due to the lower US Treasury yields, which could be attributed to the weak US Initial Jobless Claims released on Thursday. The US Bureau of Labor Statistics released data indicating that the number of individuals filing for unemployment benefits exceeded expectations. Initial Jobless Claims for the week ending May 3 rose to 231,000, surpassing estimates of 210,000 and showing an increase from the previous week's reading of 209,000.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NZD/USD clings to near 0.5950, Business NZ PSI falls back into contractionNZD/USD rebounds from a five-month low of 0.5927 reached on Monday, hovering around 0.5950 during the Asian trading hours.
Source: FXStreetNews - 🏆 14. / 72 Read more »