New Zealand Dollar weakens to near 0.5950 despite hotter Chinese CPI inflation data
The NZD/USD pair trades in negative territory near 0.5950 during the early Asian trading hours on Monday. The New Zealand Dollar (NZD) remains weak against the US Dollar (USD) after the release of the Chinese inflation report. The US Existing Home Sales data for April is due later on Monday.
The New Zealand Dollar is likely to continue weakening against the US Dollar as market sentiment reacts to the inflation data and anticipates the upcoming US housing data. A further decline towards 0.5900 may be expected if bearish momentum persists.
The NZD/USD pair trades in negative territory near 0.5950 during the early Asian trading hours on Monday. The New Zealand Dollar (NZD) remains weak against the US Dollar (USD) after the release of the Chinese inflation report. The US Existing Home Sales data for April is due later on Monday.
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