Ella 
NZD/USD attracted some buyers on Monday near the psychological 0.6000 level. The New Zealand dollar gained traction as markets pared back bets on a rate cut by the Reserve Bank of New Zealand (RBNZ) at its August meeting on Wednesday following a stronger-than-expected jobs report. In addition, as China is New Zealand’s largest trading partner, the rising consumer price index (CPI) in China in July also supported the NZD/USD represented by China.
However, increased volatility and rising geopolitical risks in the Middle East may put some selling pressure on risk assets such as the New Zealand dollar and limit the pair’s upside. Traders are awaiting the Bank of New Zealand’s rate decision on Wednesday for new catalysts. In the United States, the producer price index (PPI), consumer price index (CPI) and retail sales will be released on Tuesday, Wednesday and Thursday respectively.
