The NZD/USD pair trades strongly above the mid-0.6100s during the early Asian session on Thursday.
NZD/USD trades on a positive note near 0.6158 amid the softer USD. Investors have lowered their bets on a 25 basis points rate cut from the Fed in June. The growing fear about China's economic growth outlook undermined the China-proxy Kiwi. The US February Retail Sales data will be in the spotlight on Thursday. The decline of the US Dollar provides some support to the pair.
On the Kiwi front, the growing fear about China's economic growth outlook and the lack of supporting measures from Chinese authorities dampen commodity demand, which exerts some selling pressure on the China-proxy New Zealand Dollar and caps the pair’s upside. Later on Thursday, investors will closely watch the US Retail Sales for February. The stronger-than-expected data might lift the Greenback against its rivals.
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