NZD/USD depreciates to near 0.5880 during the Asian trading session on Tuesday, as investors turn toward the US Dollar (USD) seeking refuge amid escalated geopolitical tensions in the Middle East.
NZD/USD extends its losing streak as traders adopt cautious stance amid anticipation of Israel's response to Iran's assault. US Retail Sales rose by 0.7% in March, against the expected 0.3% and 0.9% prior. US Dollar extends gains on amplified expectations of the Fed maintaining higher policy rates for an extended period. NZD/USD depreciates to near 0.
China’s Gross Domestic Product rose by 1.6% QoQ in the first quarter of 2024, against the previous quarter’s increase of 1.0%. GDP year-over-year rose by 5.3%, exceeding the expected 5.0% and 5.2% prior. Meanwhile, China’s Industrial Production increased by 4.5% in March, against the market expectations of 5.4% and 7.0% prior On the other side, the US Dollar gained strength as Retail Sales surpassed expectations, denting hopes for potential monetary policy easing by the Federal Reserve .
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