The post NZD/USD gathers strength to near 0.5900 ahead of US Retail Sales, PPI data appeared on BitcoinEthereumNews.com.

NZD/USD gains ground to around 0.5900 in Thursday’s Asian session, adding 0.10% on the day.  Optimism from a tariff deal between the US and China lifts the China-proxy Kiwi.  Traders will closely watch the US April Retail Sales and PPI data, due later on Thursday.  The NZD/USD pair trades in positive territory near 0.5900 during the Asian trading hours on Thursday. The New Zealand Dollar (NZD) strengthens against the Greenback due to improved risk sentiment. Later on Thursday, investors will closely watch the US Retail Sales and Producer Price Index (PPI) for April. Also, the Federal Reserve (Fed) Chair Jerome Powell is scheduled to speak.  Signs of de-escalation of a US-China trade war provide some support to the China-proxy Kiwi, as China is a major trading partner of New Zealand. The US and China reached a deal to temporarily cut reciprocal tariffs and tamped down concerns of a trade war between the world’s two biggest economies. The US lowered tariffs on Chinese imports to 30% from 145%, while China cut tariffs on US imports to 10% from 125%. The lower tariff rate is effective for 90 days.  The top-tier US economic data and Fed’s Powell speech on Thursday might offer some hints about the US economic outlook and interest rate path. Any hawkish comments from Fed officials could boost the US Dollar and create a headwind for the pair.  San Francisco Fed President Mary Daly said late Wednesday that the strength of the US economy allows policymakers to be patient as they wait for more evidence of how US President Donald Trump’s policies will affect businesses and households.  Meanwhile, markets have dialed back expectations for rate cuts from the Fed this year, pricing in a 74% possibility of the first cut of at least 25 basis points (bps) at the September meeting,…

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Filed under: News - @ May 15, 2025 2:28 am