Ella 
In Sanya, NZD/USD retraced recent losses to trade around 0.5860. The rise in NZD/USD was driven by improved risk sentiment, with support provided by Israel’s postponement of its ground offensive in Gaza.
In addition, China’s plan to issue additional sovereign debt also strengthens the market’s optimistic outlook. In addition, the constructive dialogue between China and the United States during the first meeting of the Economic Working Group also contributed to positive market sentiment.
However, the NZD/USD pair may face challenges as tensions in the Middle East could escalate, leading to chaos in the region, causing investor concerns. In addition, countries are actively launching diplomatic efforts to ease tensions in the Israel-Hamas conflict in the Gaza Strip.
The U.S. dollar index rebounded from monthly lows to hover around 106.20 on Tuesday’s positive preliminary reading of the U.S. S&P Global Purchasing Managers’ Index.
However, lower U.S. Treasury yields could put downward pressure on the U.S. dollar (USD), with the 10-year Treasury yield currently sitting at 4.81%.
The U.S. S&P Global Composite Purchasing Managers’ Index increased in October, rising to 51.0 from 50.2. The services PMI also increased, reaching 50.9, while the manufacturing PMI rose to 50.0. This marks the first time in the past six months that the manufacturing sector has remained above 50 points, signaling a positive shift in the manufacturing sector.
Investors are likely to focus on U.S. third-quarter gross domestic product on Thursday. Friday will focus on U.S. core personal consumption expenditures (PCE) and the ANZ-Roy Morgan Consumer Confidence Index. .
