NZD/USD holds positive ground above 0.5950 ahead of US NFP data

The NZD/USD pair is trading higher around 0.5965 in early Asian trading on Friday, supported by a weaker US Dollar. The US reported 208,000 initial jobless claims for the week ending April 27, better than expected. The US Federal Reserve stated that it will not cut interest rates until it sees sustained easing of inflation. This has led investors to expect only one rate cut this year in November, supporting the USD and hindering the NZD/USD pair. The RBNZ warned of the risk of inflation pressures keeping global interest rates high for longer, but indicated it will not ease monetary policy until 2025 due to higher than expected inflation pressures. This has provided support for the New Zealand Dollar.