NZD/USD treads waters above 0.5950, US economic data eyed

NZD/USD consolidates ahead of the release of US economic data.
US Treasury yields extend its losses; reinforcing weakness in the US Dollar (USD).
Investors await US PCE, seeking fresh impetus on the Fed’s policy decision.
NZD/USD struggles to snap the previous day’s losses, treading waters around 0.5960 during the early trading hours in the European session on Thursday. The pair is experiencing downward pressure due to a modest recovery in the US Dollar (USD) ahead of the economic data release from the United States (US).

However, the NZD/USD gained profits earlier during the day amid China’s moderate economic data released on Thursday. The August NBS Manufacturing PMI indicated a slight improvement in business conditions, reporting a reading of 49.7 against the expected 49.24 figure and 49.3 prior. While, Non-Manufacturing PMI declined to 51.0, worse than the market consensus of 51.1 figure. The index reported a reading of 51.5 in July.