NZD/USD holds positive ground, China CPI falls in May
The post NZD/USD holds positive ground, China CPI falls in May appeared on BitcoinEthereumNews.com. NZD/USD gathers strength to around 0.6035 in Monday’s Asian session, up 0.50% on the day. China’s CPI inflation fell for a fourth consecutive month in May. Chinese officials are expected to meet with the US trade negotiation team in London later on Monday for renewed trade talks. The NZD/USD pair attracts some buyers to around 0.6035 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) strengthens against the Greenback after the Chinese inflation data. Traders will closely monitor trade talks between the US and China later on Monday. Data released by the National Bureau of Statistics of China on Monday showed that the country’s Consumer Price Index (CPI) declined 0.1% YoY in May, compared to -0.1% seen in April. This figure came in above the market expectation of -0.2%. On a monthly basis, Chinese CPI inflation eased to a decline of 0.2% in May versus April’s 0.1% rise Additionally, China’s Producer Price Index (PPI) fell 3.3% YoY in May, following a 2.7% decline in April. The data came in below the market consensus of 3.2%. The Kiwi remains strong in an immediate reaction following the mixed Chinese economic data. The attention will shift to the US-China trade talks. US President Donald Trump stated on Friday that US Treasury Secretary Scott Bessent and two other Trump administration officials are scheduled to talk with Chinese officials in London on Monday. The hope of potential trade negotiations between the world’s two largest economies provides some support to the China-proxy Kiwi, as China is a major trading partner of New Zealand. On the other hand, the renewed US Dollar demand due to stronger-than-expected US economic data, including the May jobs data, could lift the USD and act as a headwind for the pair. The US Nonfarm Payrolls (NFP) climbed by 139,000 in May, compared to the…
The post NZD/USD holds positive ground, China CPI falls in May appeared on BitcoinEthereumNews.com.
NZD/USD gathers strength to around 0.6035 in Monday’s Asian session, up 0.50% on the day. China’s CPI inflation fell for a fourth consecutive month in May. Chinese officials are expected to meet with the US trade negotiation team in London later on Monday for renewed trade talks. The NZD/USD pair attracts some buyers to around 0.6035 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) strengthens against the Greenback after the Chinese inflation data. Traders will closely monitor trade talks between the US and China later on Monday. Data released by the National Bureau of Statistics of China on Monday showed that the country’s Consumer Price Index (CPI) declined 0.1% YoY in May, compared to -0.1% seen in April. This figure came in above the market expectation of -0.2%. On a monthly basis, Chinese CPI inflation eased to a decline of 0.2% in May versus April’s 0.1% rise Additionally, China’s Producer Price Index (PPI) fell 3.3% YoY in May, following a 2.7% decline in April. The data came in below the market consensus of 3.2%. The Kiwi remains strong in an immediate reaction following the mixed Chinese economic data. The attention will shift to the US-China trade talks. US President Donald Trump stated on Friday that US Treasury Secretary Scott Bessent and two other Trump administration officials are scheduled to talk with Chinese officials in London on Monday. The hope of potential trade negotiations between the world’s two largest economies provides some support to the China-proxy Kiwi, as China is a major trading partner of New Zealand. On the other hand, the renewed US Dollar demand due to stronger-than-expected US economic data, including the May jobs data, could lift the USD and act as a headwind for the pair. The US Nonfarm Payrolls (NFP) climbed by 139,000 in May, compared to the…
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