Investing.com - The New Zealand dollar rose against its U.S.
counterpart on Monday, after data showed that the Chinese economy
expanded in line with expectations in the second quarter.
NZD/USD hit 0.7827 during late Asian trade, the session high; the
pair subsequently consolidated at 0.7807, gaining 0.40%.
The pair was likely to find support at 0.7710, the low of July 3
and resistance at 0.7879, the high o July 12.
Official data showed that Chinese gross domestic product expanded
7.5% in the second quarter from a year earlier, following growth of
7.7% in the three months to March and in line with expectations.
Separate reports showed that Chinese retail sales rose to 13.3% on
a year-over-year basis in June, up from 12.9% in May, while
industrial production declined to 8.9% in June from 9.2% the
China is New Zealand's second biggest export partner.
The kiwi was lower against the Australian dollar with AUD/NZD
adding 0.11%, to hit 1.1648.
Also Monday, official data showed that new motor vehicle sales in
Australia rose 4.0% in June, after a 0.3% gain the previous month.
Later in the day, the U.S. was to release official data on retail
sales and the Empire State manufacturing index.
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