NZD/USD consolidates its gains near 0.6200 amid weaker US PMI data

The NZD/USD pair consolidates its gains near 0.6190 on Tuesday during the early Asian session.

NZD/USD trades flat around 0.6190 in Tuesday’s early Asian session. The US Manufacturing PMI dropped to 48.7 in Mayfrom 49.2in April, weaker than expected. The improving Chinese Caixin Manufacturing PMI data and the hawkish stance from the RBNZ support the Kiwi. The worse-than-expected US ISM Manufacturing PMI data has dragged the Greenback lower and supported the pair. Investors await the US ISM Services PMI, which is due on Wednesday.

On the Kiwi front, the encouraging Chinese Caixin Manufacturing PMI for May lifted the China-proxy New Zealand Dollar as New Zealand is one of China's leading trading partners.

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:

FXStreetNews /  🏆 14. in US

Majors Macroeconomics

United States Latest News, United States Headlines

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

NZD/USD gains traction above 0.6100 ahead of US PMI dataThe NZD/USD pair gains momentum around 0.6108 during the Asian trading hours on Thursday.
Read more »

NZD/USD trades sideways near 0.6150 ahead of US Manufacturing PMIThe NZD/USD pair is stuck in a tight range near 0.6150 in Monday’s Asian session.
Read more »

NZD/USD moves below 0.6000 after the release of Business NZ PMINZD/USD has halted its two days of gains, trading around 0.6020 during the Asian session on Friday.
Read more »

NZD/USD IG Client Sentiment: Our data shows traders are now net-long NZD/USD for the first time since May 15, 2024 13:00 GMT when NZD/USD traded near 0.61.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bearish contrarian trading bias.
Read more »

NZD/USD IG Client Sentiment: Our data shows traders are now net-short NZD/USD for the first time since Mar 12, 2024 when NZD/USD traded near 0.61.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.
Read more »

NZD/USD gains traction above 0.6100, eyes on US dataThe NZD/USD pair gains momentum around 0.6120 during the early trading hours on Thursday.
Read more »