RBNZ and Fed sentiment are at the helm of the moves. slides in a correction, supporting the bird up from a one-month low of 0.618 overnight on Monday. At the time of writing, NZD/USD is trading at 0.6200 and has moved up from a low of 0.6175 to score a high of 0.6224 so far.
it has been more of a US dollar story in the currency markets at the start of the week which has fallen against most FX on Tuesday after better-than-forecast growth data from China. China's gross domestic product grew 4.5% year on year in the first three months of the year, data showed, beating analyst forecasts for a 4% expansion after the end of COVID-19 restrictions lifted the world's second-largest economy.
The data and growth sentiment around China has hurt the US Dollar that had otherwise found a bid on Monday after New York state factory activity in April increased for the first time in five months. There has been a series of events that have been helping bolster expectations that the Federal Reserve will raise interest rates in May, including Friday´s hawkish rhetoric from a top Federal Reserve official.
Federal Reserve´s Governor Christopher Waller said that despite a year of aggressive rate increases, the Fed "hasn't made much progress" in returning inflation to their 2% target and argued that
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