The New Zealand dollar rose to around $0.588 on Friday, snapping a two-day losing streak. The dollar fell earlier on weak economic data, fueling expectations of further interest rate cuts from the Federal Reserve this year. The latest data showed that U.S. producer prices unexpectedly fell by the most in five years, while retail sales growth slowed. Back home, markets are still betting on the Reserve Bank of New Zealand to cut interest rates by a further 25 basis points later this month due to economic weakness. However, investors are skeptical that the central bank's easing cycle may be coming to an end, with rates now expected to bottom out at 3.0%. Despite Friday's rebound, the New Zealand dollar is still set to fall for the third consecutive week. The previous week, the New Zealand dollar had a turbulent week, with the dollar rising on news that the United States and China had reached a tariff deal, but encountered selling pressure at key technical levels.