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June 05, 2023NZD/USD posts light gains on a low-volatility day, ranging between 0.6044 – 0.6085 and is now at 0.6077.
The New-Zealand Dollar is currently trading at 0.6077 following the release of ISM Non-Manufacturing PMI (May) data from the United States.
At the same time, United States ISM Non-Manufacturing PMI (May) came out at 50.3, while a consensus of analysts was expecting 51.8. United States Services PMI released today at 13:45 UTC with a figure of 54.9, while the previous figure was 53.6. Following a previous reading of 0.6%, Factory Orders in United States released today at 14:00 UTC fell short of the 1.1% figure expected by analysts with an actual reading of 0.4%.
Meanwhile, GBP/NZD is down 88 pips from the beginning of the session and now trades around 2.046. USD/CHF closed at 0.9053 (down 0.37%). GBP/JPY is trading around 173.76 (down 54 pips).
Furthermore, the market is looking at New Zealand Retail Price Index is expected tomorrow at 12:00 UTC. United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 16:00 UTC.
As things stand, the Kiwi is 8.89% away from a significant low of 0.5566 first set 7 months ago.
