The NZD/USD pair saw a slight recovery on Friday as RBNZ officials made hawkish comments. However, strong PMI data from the US boosted the Greenback, causing some pressure on the Kiwi. The US Composite PMI rose to 54.4 in May, exceeding expectations and indicating strong output growth. The Fed expressed concerns about inflation in the latest FOMC Minutes.
Investors are keeping an eye on US Durable Goods Orders and the Michigan Consumer Sentiment Index for further insight. In New Zealand, the ANZ – Roy Morgan Consumer Confidence rose slightly in May, offering some support for the NZD.
RBNZ officials, including Deputy Governor Christian Hawkesby and Assistant Governor Karen Silk, have expressed their views on interest rates and inflation risks. Governor Adrian Orr mentioned in an interview that another interest rate hike is unlikely at the moment.
Overall, the NZD/USD pair is trading around 0.6100 during the Asian session on Friday, with various factors influencing its movement.