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NZ dollar slips as China data disappoints, Trump-Iran talks eyed
NZD/USD held near 0.5870, down 0.11% on the day, while traders weighed Reuters optimism around renewed Iran talks against risk caution.
The New Zealand dollar eased against the US dollar on Monday, with NZD/USD trading around 0.5870, down 0.11% at the time of writing, as investors split attention between China’s slower growth signals and developments around Washington’s renewed engagement with Iran.
FXStreet said weaker-than-expected China data capped the Kiwi’s momentum. China’s Manufacturing PMI slowed to 50.9 in July from 51.7 in June, falling below the market consensus of 51.5, though the report appeared to have only a limited near-term impact on NZD as market participants prioritized geopolitical headlines.
The outlet linked the broader tone in currency markets to conflicting messaging on US-Iran talks. US President Donald Trump said a new round of talks would begin Monday afternoon after pausing planned military strikes, while Iranian officials rejected the remarks and said Iran’s armed forces remain on high alert.
Attention also turned to central-bank expectations and upcoming US data. FXStreet noted that OPEC+ plans to increase production in September weighed on oil prices and slightly reduced expectations for tighter Fed policy, while investors looked ahead to the Institute for Supply Management Manufacturing PMI later Monday and Friday’s July nonfarm payrolls for further clues on the Fed outlook and the next direction for NZD/USD.