NZDUSD continues its uptrend from Chinese economic data
Hello dear readers! Today, the NZD/USD pair continues its trend and rises to 0.5925 in the early trading hours in Asia on Friday. Currently, it is trading around the price level of 0.5920, supported by better-than-expected data from China.
According to reports, China's retail sales in August increased by 4.6% compared to the previous figure of 2.5%, surpassing market expectations. Meanwhile, the country's industrial production improved to 4.5% in August from the previous month's figure of 3.7%, exceeding market expectations of 3.9%. Lastly, fixed asset investment rose by 3.2% compared to the same period last year in August, lower than the expected figure of 3.3%.
In response to this data release, New Zealand (NZD), being an authorized representative for China, has attracted some buyers and acted as a tailwind for the NZD/USD pair's upward movement.
According to reports, China's retail sales in August increased by 4.6% compared to the previous figure of 2.5%, surpassing market expectations. Meanwhile, the country's industrial production improved to 4.5% in August from the previous month's figure of 3.7%, exceeding market expectations of 3.9%. Lastly, fixed asset investment rose by 3.2% compared to the same period last year in August, lower than the expected figure of 3.3%.
In response to this data release, New Zealand (NZD), being an authorized representative for China, has attracted some buyers and acted as a tailwind for the NZD/USD pair's upward movement.
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