The NZD/USD pair attracts new buyers at the start of a new week and jumps to a four-day high, around the 0.5770 area, during the Asian session amid broad US dollar (USD) weakness. Spot prices are reacting little to the Chinese macro data dump and remain confined to a familiar range over the past week or so.
The National Bureau of Statistics (NBS) reported that China’s economy expanded 1.2% quarter-on-quarter in the fourth quarter of 2025, coming in above consensus estimates for 1.0% growth and up from the 1.1% rise recorded in the third quarter. Meanwhile, China’s annual retail sales for December rose 0.9% versus 1.2% expected and 1.3% previously, while industrial production came in at 5.2% versus 5.0% expected and November’s reading of 4.8%. Furthermore, fixed asset investment fell by 3.8% year-on-year in December versus an expected 3.0% decline and a 2.6% decline in the previous month.
However, the data failed to provide any tangible momentum to counter currencies, including the New Zealand dollar, amid a new wave of risk-off global trade, which tends to undermine the riskier New Zealand dollar. However, the downside for NZD/USD remains limited on the back of the Reserve Bank of New Zealand’s (RBNZ) hawkish outlook on the future policy path. Aside from this, the emergence of fresh selling around the US Dollar (USD) turned out to be another factor contributing to the supply tone surrounding the currency pair.
Economic indicator
GDP (Quarterly)
GDP, issued by National Bureau of Statistics of China On a quarterly basis, it is a measure of the total value of all goods and services produced in China during a given period. GDP is the main measure of economic activity in China. The quarterly reading compares economic activity in the reference quarter with the previous quarter. In general, a high reading is considered bullish for the Renminbi (CNY), while a low reading is considered bearish.
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