New Zealand Dollar holds losses below 0.5800 despite upbeat Chinese PMI data
The post New Zealand Dollar holds losses below 0.5800 despite upbeat Chinese PMI data appeared on BitcoinEthereumNews.com.
The NZD/USD pair holds losses near 0.5785 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) remains weak against the US Dollar (USD) despite the upbeat Chinese economic data. Traders brace for the release of the US Initial Jobless Claims report later on Wednesday. Data released by China’s National Bureau of Statistics (NBS) on Wednesday showed that the country’s Manufacturing Purchasing Managers’ Index (PMI) rose to 50.1 in December, versus 49.2 prior. The reading came in stronger than the expectations of 49.2 in the reported month. The NBS Non-Manufacturing PMI climbed to 50.2 in December, compared to 49.5 in November. The market forecast was for a 49.8 print. Meanwhile, China’s RatingDog Manufacturing PMI rose to 50.1 in December from 49.9 in November. The stronger-than-expected Chinese PMI reports fail to boost the China-proxy Kiwi amid a cautious mood as traders prepare for the New Year holidays. Trading volumes are expected to remain thin later in the day. The US Federal Reserve (Fed) cut the federal funds rate by 25 basis points (bps) at its December policy meeting, bringing the target range to 3.50%-3.75%. The US central bank delivered a cumulative 75 basis points of rate cuts in 2025, amidst a cooling labor market and slightly elevated inflation. According to minutes from the Fed’s December 9-10 meeting, most Fed officials viewed further interest-rate reductions as appropriate, provided inflation declines over time, although they remained divided over when and by how much to cut. Following the FOMC minutes’ release, the odds of a January cut based on federal funds futures contracts declined slightly to about 15%, according to the CME FedWatch tool. New Zealand Dollar FAQs The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy…
Filed under: News - @ December 31, 2025 2:26 am