China’s Consumer Price Index (CPI) deflation continued into the fourth straight month in May. Headline CPI fell by -0.1% y/y (Bloomberg est: -0.2%; Apr: -0.1%) due to declining domestic food prices and weak energy prices.
NZD/USD recovered its recent losses registered in the previous session, trading around 0.6040 during the Asian hours on Monday. The pair appreciates as the US Dollar (USD) declines, potentially due to a technical correction.
European Central Bank (ECB) policymaker Mario Centeno said on Friday that that the tariffs imposed by the United States will have a deflationary effect in the Eurozone, per Reuters.