NZD/USD ATTRACTS SOME BUYERS ABOVE 0.5900 AS CHINA'S ECONOMY GROWS 5.4% YOY IN Q1
NZD/USD ATTRACTS SOME BUYERS ABOVE 0.5900 AS CHINA'S ECONOMY GROWS 5.4% YOY IN Q1
The NZD/USD pair is trading around 0.5905 during Asian trading hours on Wednesday, maintaining a positive stance.
China's economy grew by 5.4% year-on-year in the first quarter of 2025, surpassing analysts' expectations of 5.1%.
The growth was bolstered by government stimulus measures aimed at supporting consumption and industrial output.
Despite the strong growth, escalating trade tensions with the United States, including new tariffs, pose risks to China's export-driven economy.
The upbeat Chinese economic data has led to increased buying interest in the NZD/USD pair, as investors respond to the positive news.
Traders are monitoring the 0.5900 level for potential support, with further gains possible if the positive sentiment persists.
