NZD/USD remains below 0.6100 as weak Chinese inflation data dent sentiment – by hareshmenghani NZDUSD China Inflation Fed Currencies
The prevalent cautious mood around the equity markets, which, along with a modest uptick in the US Treasury bond yields, benefits the safe-haven US Dollar and undermines the risk-sensitive Kiwi. Weaker-than-expected Chinese inflation figures released earlier today add to worries about a global economic slowdown and tempers investors' appetite for riskier assets. In fact, the National Bureau of Statistics reported that China's headline CPI contracted by 0.2% in May and rose by 0.
In the meantime, the US bond yields will continue to play a key role in influencing the USD price dynamics and provide some impetus to . Apart from this, the broader risk sentiment might contribute to producing short-term trading opportunities in the absence of any relevant market-moving economic data. Nevertheless, spot prices remain on track to post modest gains for the second straight week.
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