NZD/USD extends its losing streak as traders adopt cautious stance amid anticipation of Israel's response to Iran's assault. US Retail Sales rose by 0.7% in March, against the expected 0.3% and 0.9% prior. US Dollar extends gains on amplified expectations of the Fed maintaining higher policy rates for an extended period. NZD/USD depreciates to near 0.
China’s Gross Domestic Product rose by 1.6% QoQ in the first quarter of 2024, against the previous quarter’s increase of 1.0%. GDP year-over-year rose by 5.3%, exceeding the expected 5.0% and 5.2% prior. Meanwhile, China’s Industrial Production increased by 4.5% in March, against the market expectations of 5.4% and 7.0% prior On the other side, the US Dollar gained strength as Retail Sales surpassed expectations, denting hopes for potential monetary policy easing by the Federal Reserve .
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