The NZD/USD currency pair is struggling to maintain its footing, trading at approximately 0.5785 during Asian hours on Wednesday. Despite the release of positive Chinese PMI data, which typically supports commodity-linked currencies like the New Zealand Dollar (NZD), the pair remains below the critical 0.5800 level. This weakness highlights ongoing concerns about the NZD's performance against the US Dollar (USD).
Market participants are now eyeing the upcoming US Initial Jobless Claims report, which could further influence the exchange rate dynamics. A stronger USD may exacerbate the NZD's challenges, particularly as traders assess the broader implications of economic data from both the US and China. As the trading session unfolds, volatility in the NZD/USD pair is anticipated, reflecting market sentiment and economic indicators.
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Data Source: FX Killer Analysis Team Updated: 2025-12-31 03:26
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.