New Zealand Dollar advances as US Dollar correction outweighs weak Chinese data

NZD/USD advances on Monday despite weaker-than-expected Chinese economic data.
The US Dollar retreats as traders take profits after the recent rally driven by hawkish Fed expectations.
Geopolitical tensions in the Middle East continue to support demand for safe-haven assets.

Ghiles Guezout FXStreet

NZD/USD rebounds around 0.5860 on Monday at the time of writing, up 0.35% on the day, after earlier touching a low near 0.5822 following disappointing economic data from China. The rebound in the pair comes as the US Dollar (USD) corrects after its recent rally, with the US Dollar Index (DXY) losing 0.14% around 99.15 at the time of press.

Data released on Monday by the National Bureau of Statistics (NBS) showed that China’s Retail Sales rose only 0.2% YoY in April, compared with 1.7% previously and well below market expectations of 2%. Meanwhile, Industrial Production increased 4.1% YoY, down from 5.7% previously and below the 5.9% consensus forecast.

These figures initially weighed on the New Zealand Dollar (NZD), which is often seen as sensitive to the Chinese economic outlook due to the close trade ties between the two economies. However, the pullback in the Greenback ultimately allowed NZD/USD to regain ground during the European session.

The corrective move in the US Dollar comes after several days of strong gains driven by rising US Treasury yields and expectations of tighter monetary policy from the Federal Reserve (Fed). According to ING, the recent rise in the US 10-year Treasury yield, now at its highest level since early 2025, is increasing pressure on the Fed to adopt a more hawkish tone.

Markets continue to closely monitor geopolitical tensions in the Middle East. Comments from United States (US) President Donald Trump regarding Iran, as well as ongoing negotiations through Pakistani mediation, are maintaining a cautious mood across financial markets. Reports that Iranian and Omani technical teams met last week in Oman to negotiate a mechanism for safe transit in the Strait of Hormuz, also help to support market sentiment.

New Zealand Dollar Price Today

The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the strongest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.13%	-0.33%	0.05%	-0.06%	-0.15%	-0.34%	-0.21%
EUR	0.13%		-0.21%	0.17%	0.06%	-0.04%	-0.22%	-0.09%
GBP	0.33%	0.21%		0.38%	0.25%	0.18%	0.00%	0.12%
JPY	-0.05%	-0.17%	-0.38%		-0.15%	-0.22%	-0.44%	-0.28%
CAD	0.06%	-0.06%	-0.25%	0.15%		-0.08%	-0.28%	-0.14%
AUD	0.15%	0.04%	-0.18%	0.22%	0.08%		-0.18%	-0.03%
NZD	0.34%	0.22%	0.00%	0.44%	0.28%	0.18%		0.14%
CHF	0.21%	0.09%	-0.12%	0.28%	0.14%	0.03%	-0.14%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).

Author

Ghiles Guezout

FXStreet

Ghiles Guezout is a Market Analyst with a strong background in stock market investments, trading, and cryptocurrencies. He combines fundamental and technical analysis skills to identify market opportunities.

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