- The NZD/USD weakens after a 90 -day pause in the tariff escalation and a significant reciprocal reduction of 115% in tariffs.
- The US trade representative, Jamieson Greer, admitted that the embargo strategy was unsustainable and emphasized the commitment of both countries with the pause.
- The New Zealand dollar continues under pressure amid expectations of greater monetary relief by RBNZ.
The NZD/USD is still under pressure, quoting about 0.5900 during the first European hours on Monday, despite an improved global commercial environment after positive developments in commercial conversations between the US and China. The US dollar (USD) was strengthened after the publication of a joint statement of high -level commercial negotiations held during the weekend in Geneva, Switzerland. The statement confirmed that the US will suspend 24 percentage points of its tariff rate on Chinese goods for an initial period of 90 days.
In a scheduled press conference, the US Treasury Secretary, Scott Besent, emphasized the importance of the agreement, highlighting a 90 -day break in the tariff escalation and a substantial reciprocal reduction of 115% in tariffs. Besent said that both parties showed a strong personal relationship and remained focused on national interests.
The US trade representative, Jamieson Greer, said similar feelings, underlining mutual respect and understanding between both delegations. Greer acknowledged that the embargo approach was unsustainable and reaffirmed the commitment of both nations with the 90 -day pause, although he said that the issue of fentanyl is still unresolved.
Despite the positive commercial context, the New Zealand dollar (NZD) is still pressed for the expectations of greater monetary relief by the New Zealand Bank reserve (RBNZ). The country’s recent data pointed to weakened labor market conditions and a salary growth in deceleration, strengthening the case for a 25 -point basic point cut this month. The markets are also valuing additional relief, with the expected cash rate to fall to 3% by the end of the year and anticipating three more cuts in 2025.
New Zealander dollar today
The lower table shows the percentage of change of the New Zealand dollar (NZD) compared to the main coins today. New Zealand dollar was the weakest currency against the US dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 1.14% | 0.87% | 0.87% | 0.46% | -0.03% | 0.57% | 1.02% | |
| EUR | -1.14% | -0.13% | 0.26% | -0.17% | -0.53% | -0.07% | 0.37% | |
| GBP | -0.87% | 0.13% | 0.58% | -0.04% | -0.38% | -0.01% | 0.51% | |
| JPY | -0.87% | -0.26% | -0.58% | -0.42% | -1.52% | -1.15% | -0.09% | |
| CAD | -0.46% | 0.17% | 0.04% | 0.42% | -0.22% | 0.11% | 0.55% | |
| Aud | 0.03% | 0.53% | 0.38% | 1.52% | 0.22% | 0.36% | 0.88% | |
| NZD | -0.57% | 0.07% | 0.01% | 1.15% | -0.11% | -0.36% | 0.42% | |
| CHF | -1.02% | -0.37% | -0.51% | 0.09% | -0.55% | -0.88% | -0.42% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the New Zealand dollar of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the NZD (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
