NZD/USD Slips as China's Weak Data Weighs on Kiwi

The New Zealand Dollar declined to around 0.5860 on Friday as China's weak economic data weighed heavily on it.

China released lower-than-expected business activity figures for July, with the Manufacturing Purchasing Managers' Index (PMI) falling to 49.2, down from 50.3 in June and below market forecasts of 50.0.

The Non-Manufacturing PMI also declined sharply to 49.0 from 50.2, indicating a broader slowdown across both manufacturing and services sectors.

Concerns over slower Chinese growth reduced investor appetite for the Kiwi despite stronger domestic indicators in New Zealand.