NZD Dips on Weak Chinese Data as US-Iran Talks Intensify

The New Zealand Dollar (NZD) dipped on Monday to around 0.5870, down 0.11% from the previous day.

This decline came after weaker-than-expected economic data from China, specifically a manufacturing PMI reading of 50.9 in July, which missed market consensus of 51.5.

Investors are keeping a close eye on developments surrounding talks between Washington and Tehran, following President Donald Trump's announcement that new negotiations with Iran would begin on Monday afternoon.

The conflicting messages from both countries' leaders keep investors cautious, although any progress towards an agreement could improve risk sentiment and support growth-sensitive currencies like the NZD.