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fxJul 1, 2026, 2:15 AM

New Zealand Dollar Holds Losses Near 0.5665 After China PMI Data

NZD/USD remains under pressure around 0.5665 during Asian trade on Wednesday, extending losses after weaker Chinese economic data.

NZDUSD

The New Zealand Dollar (NZD) is struggling to recover against the US Dollar (USD), with the NZD/USD pair trading near 0.5665 in Asian hours on Wednesday. The pair continues to hold its negative stance following the release of Chinese PMI data, which came in softer than expected.

China's economic indicators weighed on the Kiwi, given New Zealand's close trade ties with its largest export partner. The data reinforced expectations of a sluggish recovery in China, undermining demand for risk-sensitive currencies like the NZD.

Technically, the pair remains under the 0.5700 level, with bears eyeing a test of the 0.5600 support if the downtrend persists. No major economic releases are due from New Zealand later today, leaving the pair sensitive to broader risk appetite and US Dollar strength.

Source: FXStreet Forex News