NZD/USD slumps amid concerns over China’s economic recovery and strong US Dollar – by christianborjon NZDUSD Currencies Majors
s, sparking investor worries. Hence, traders braced for the safe-haven status of the US Dollar , a headwind for the NZD/USD, which exchanges hands at 0.6051, down 1%, after hitting a daily high of 0.6109.
The US economic docket showed the trade deficit shrinking in June, with Imports hitting a one-and-a-half-year low, as the US Commerce Department revealed. Exports came at $247.5 billion, below May’s $247 billion, while Imports dipped to $313 billion from $316.1 billion the prior’s month. Hence, the Trade Balance came at $-65.5, a tick higher than the $-65 billion estimated but below the previous reading of $-68.3 billion.
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