NZD/USD gains ground after Chinese import shows rise in April.
indicated a delay in any potential rate cut until 2025. The higher US Treasury yields are contributing support for the US Dollar. NZD/USD has extendedits gains for the second consecutive session, trading around 0.6010 during the Asian session on Thursday. The New Zealand Dollar gains ground after the release of the Chinese data on Thursday, given the close trade relationship between New Zealand and China. Chinese Imports surged by 8.4% in April, surpassing forecasts of 5.4%.
cited higher-than-anticipated inflation pressures in the first quarter as a reason for this stance. Such a decision could provide support for the New Zealand Dollar . On the US Dollar’s front, the expectations of the Federal Reserve to keep higher interest rates for an extended period, pushing the US Treasury yields higher.This supports the US Dollar , limiting the advance of the NZD/USD pair. Additionally, hawkish remarks from Federal Reserve officials have strengthened the Greenback.
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