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The services sector in New Zealand picked up steam in May, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 53.

(RTTNews) - The services sector in New Zealand picked up steam in May, the latest survey from BusinessNZ revealed on Monday with a Performance of ...

Dollar and Japanese Yen saw a modest bounce back in today's Asian session, making up for some of their steep losses from last week. However, the buying momentum for both currencies remains relatively weak. Due to a light economic calendar today, coupled with public holiday in the US, trading could be relatively quiet. But, the rest of the week is likely to bring considerable volatility, with BoE and SNB rate decisions, Fed Chair Jerome Powell's testimony, and a barrage of crucial economic data.

The forex markets are holding steady in a consolidative pattern today. Notably, Euro has remained largely unaffected by continued hawkish messages emanating from top ECB officials, who have merely echoed President Christine Lagarde's suggestion that an interest rate hike is likely in July, while situation in September remains uncertain.

The manufacturing sector in New Zealand continued to contract in May, albeit at a slower pace, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 48.