NZD/USD WAFFLES ON FRIDAY, DIPS INTO 0.5890
- The NZD/USD caught a ride lower as the Kiwi gives up more chart paper to the Greenback.
- New Zealand's Business NZ PMI worsened early Friday, hobbling the NZD.
- Kiwi traders will be looking ahead to Monday's NZ CPI figures.
The NZD/USD is seeing soft downside heading into the trading week's close, sending the pair firmly into red territory for the week.
Early Friday's Business NZ Purchasing Manager's Index (PMI) showed a further decline in the confidence metric, down to 45.3 against the previous print of 46.1.
Kiwi traders will now have their eyes turned to New Zealand Consumer Price Index (CPI) inflation figures, due late Monday at 21:45 GMT.
NZ CPI inflation is forecast to twist, with the quarter-on-quarter figure forecast to step up from 1.1% to 2%, while the annualized figure into the third quarter is expected to tick downwards slightly from a flat 6% to 5.9%.
The Reserve Bank of New Zealand (RBNZ) is currently stuck in a wait-and-see holding pattern on interest rates, and both investors and the RBNZ will be keeping a close eye on inflation
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