The New Zealand Dollar weakens slightly after China’s July PMI misses forecasts, but geopolitical risks dominate investor focus.
NZD/USD fell 0.11% to 0.5870 on Monday, pressured by softer-than-expected Chinese economic data. China’s Manufacturing PMI slowed to 50.9 in July from 51.7 in June, below the 51.5 consensus, signaling weaker demand in New Zealand’s key export market.
Investors largely shrugged off the data, prioritizing US-Iran negotiations set to resume Monday. President Trump announced talks after suspending military strikes, though Iran dismissed the claims as false, keeping markets cautious. Progress could lift risk sentiment, while escalation may boost USD demand.
Upcoming US economic releases may further influence the pair, though geopolitical developments remain the primary driver for now.