NZD/USD attracts some buyers above 0.6100 amid the US Dollar weakness

• NZD/USD gathers strength around 0.6110 in Thursday's early Asian session, up 0.12% on the day. 
• US ISM Services PMI came in weaker than expected, dropping to 48.8 in June from 53.8 in May.  
• The RBNZ is expected to leave its OCR unchanged at 5.5% at its policy meeting next week. 

The NZD/USD pair extends gains near 0.6110 on Thursday during the early Asian trading hours. The pair edges higher as the Greenback came under heavy bearish pressure after the disappointing US ISM Services PMI report. The US markets will be closed on Thursday due to Independence Day.

Data released from the Institute for Supply Management (ISM) on Wednesday showed that the US Services PMI dropped to 48.8 in June from 53.8 in May. This figure came in worse than the market estimation of 52.5 by a wide margin. Meanwhile, the US weekly Initial Jobless Claims for the week ending June 29 rose by 238,000, compared to the previous weekly gain of 233,000, above the consensus of 235,000. The Greenback has attracted some sellers due to the weaker US economic data, which acts as a tailwind for NZD/USD. 

The Minutes of the Federal Reserve's (Fed) June 11-12 monetary policy meeting released on Wednesday revealed that the Fed officials were in wait-and-see mode at their June meeting. "Some participants emphasized the Committee's data-dependent approach, with monetary policy decisions being conditional on the evolution of the economy rather than being on a preset path," the minutes showed. 

Early Thursday, Chicago Fed President Austan Goolsbee said that getting inflation back to 2% will take time and there is still much data to be had on the economy.

On the Kiwi front, the Reserve Bank of New Zealand (RBNZ) is anticipated to hold its borrowing costs at 5.5% for the seventh consecutive meeting in July. Nonetheless, investors have priced in nearly 45% odds of an October cut from the RBNZ. Traders will take more cues from the Monetary Policy Statement. Any hints about an earlier easing cycle from the New Zealand central bank might drag the New Zealand Dollar (NZD) lower and cap the upside for the pair.