The New Zealand Dollar continues to be consistently pressured due to the softening outlook in China. China's currency has experienced its third consecutive monthly decline in December, and the manufacturing purchasing managers' index has also decreased. This has raised concerns about the economic situation and demand from New Zealand's major trading partner, given the close economic ties between the two countries.

Furthermore, China's fourth-quarter Gross Domestic Product (GDP) increased by 5.2%, slightly below the expected 5.3%. Industrial production rose by 6.8% year-on-year in December. However, retail sales grew at 7.4% year-on-year, lower than the market expectation of 8.0%.

Investors are closely watching the upcoming retail sales data from the United States for December, as it will provide deeper insights into consumer spending patterns. Additionally, the comments of John C. Williams from the Federal Reserve are closely monitored for further insights into the future monetary policy of the central bank.