The NZD/USD pair attracts some buyers and holds above the 0.5900 area during the Asian session on Wednesday. The upbeat Chinese economic data lends so
NZD/USD posts modest gains around 0.5905 after the upbeat Chinese growth numbers. China’s Gross Domestic Product for Q3 climbed 1.3% QoQ vs. 0.8% prior, better than expected. US Retail Sales for September grew 0.7% MoM, beating the market estimation. me support to the Kiwi. The pair currently trades near 0.5905, gaining 0.13% for the day. The latest data from the National Bureau of Statistics of China on Wednesday revealed that China’s Gross Domestic Product for the third quarter climbed 1.
On the USD’s front, Minneapolis Federal Reserve Bank President Neel Kashkari stated that inflation has taken considerably longer than expected and is still too high. Philadelphia Fed President Patrick Harker maintained his dovish stance by mentioning that that in the absence of some turn in the data, the Fed should hold rates steady. That said, the additional dovish comments from the Federal Reserve officials might weigh on the US Dollar and act as a tailwind for the NZD/USD pair.
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