Ella 
NZD/USD rose on Monday while US traders were closed for Memorial Day.
In the United States, the Federal Reserve’s (Fed) upcoming Beige Book may set the tone for NZD/USD on Wednesday. Elsewhere, April’s core PCE price index will be closely watched on Friday, with an annualized rate of 2.8% expected. Revised first-quarter gross domestic product (GDP) will be released on Thursday, which could also impact markets.
Additionally, Fed spokespeople will be speaking throughout the week, and they may offer nuanced insights into the current Fed stance before the quiet period. Current market pricing puts the probability of a Fed rate cut in September at about 50% and the probability of a rate cut in November at 80%. The probability of interest rate cuts in June and July remains low.
As for New Zealand, investors are banking on the ANZ Business Survey for May, due out on Tuesday, to provide areas of concern including New Zealand inflation and business activity.
