NZD/USD starts the week on a positive note, trading higher around 0.5910 during the Asian session on Monday. The pair is experiencing upward support a
However, downbeat economic data from New Zealand could put a ceiling on the potential of the Aussie pair. The Business NZ PSI report printed a reading of 47.1 lower than the previous 47.8 figure, which showed that business conditions in the service sector weakened in August. data this week, the New Zealand Institute of Economic Research has issued its Consensus Forecasts for the country's growth and inflation figures.
US Dollar has weakened following the release of downbeat consumer sentiment data from the United States on Friday. The preliminary Michigan Consumer Sentiment Index printed a reading of 67.7, down from the previous figure of 69.5 and below the expected reading of 69.1 for September.
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