FXStreet (Córdoba) – NZD/USD moved with an upside bias during most of the day, but after the US ISM report it bounced to the downside, erasing gains.
USD up after many reports
A round of US data showed mixed numbers. Personal spending remained unchanged in April while income rose 0.4%. US the Markit manufacturing PMI for May came in at 54.0 lower than the 54.2 expected but up from previous 53.8 reading. Meanwhile, the Institute of Supply Management (ISM) manufacturing PMI rose to 52.8 in May from 51.5 and above the 52.0 expected. Construction spending climbed 2.2%, above the 0.8% expected.
Greenback was trading lower but after the ISM soared in the market. NZD/USD was trading at daily highs at 0.7148 but turned to the downside and recently fell to 0.7089, the lowest level since the Asian session when it bottomed at 0.7072 (fresh 4-year low).
(Market News Provided by FXstreet)