The NZD/USD pair extends downside around 0.6155 during the Asian session on Friday.
NZD/USD weakens for the second consecutive day near 0.6155 on Friday. The hawkish Fed is likely to lift the Greenback in the near term. New Zealand's Business NZ PMI contracted to 47.2 in May vs. 48.9 prior. The firmer Greenback and weaker New Zealand PMI data exert some selling pressure on the pair. The preliminary US Michigan Consumer Sentiment report is due later on Friday. Also, the Fed Bank of Chicago President Austan Goolsbee is scheduled to speak.
This figure came above the market consensus of 225K and the previous week's reading of 229K. On the Kiwi front, New Zealand manufacturing has remained in contraction for 15 consecutive months, which undermines the New Zealand Dollar . Early Friday, Business NZ showed that the nation’s Performance of Manufacturing Index contracted to 47.2 in May from the previous reading of 48.9.
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