The NZD/USD tried to push on higher on Friday night. However, it found resistance just above 0.8130, before returning to close the week at 0.8050. NZ’s stellar Performance of Manufacturing Index release went almost unnoticed by the currency on Friday. May’s PMI reading of 59.2 was the highest since June 2004. It is a significant lift from April’s already very solid reading of 55.2 and a world away from last year’s average of 50.9. The index also stands head and shoulders above its global peers. The JPMorgan World PMI stands at 50.6.
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