The New Zealand Dollar remains under pressure near 0.5975 as traders await US manufacturing PMI data later today.
The NZD/USD pair traded around 0.5975 in early Asian trading, extending losses despite better-than-expected Chinese manufacturing PMI figures. The data failed to lift the New Zealand Dollar, which has been weighed by broader market sentiment and anticipation of key US economic releases.
China’s manufacturing PMI earlier signaled expansion, but the impact on the NZD was limited. Market focus now shifts to the US ISM Manufacturing PMI report due later Monday, which could influence Fed policy expectations and USD strength.
The pair remains below the 0.6000 psychological level, reflecting persistent selling pressure on the NZD.