NZD/USD rebounds toward 0.5900 following Trade Balance data, PBoC decision

NZD/USD trims losses after New Zealand posted NZD 698 million March Trade Surplus.
The People’s Bank of China left one- and five-year Loan Prime Rates unchanged at 3.00% and 3.50%, respectively.
US Dollar gained as markets priced the Fed’s higher-for-longer stance amid persistent inflation and Middle East tensions.

Akhtar Faruqui FXStreet

NZD/USD pares its daily losses, trading around 0.5880 during the Asian hours on Monday. The pair pares its daily losses following the release of New Zealand’s trade balance data, which showed a surplus of NZD 698 million month-over-month (MoM) in March, swinging from a deficit of NZD 365 million in February.

Moreover, the annual trade deficit was NZD 3.2 billion in March, against the NZD 3.1 billion in the previous month. Exports rose 7.3% year-on-year to a record high of NZD 7.94 billion in March 2026. Meanwhile, Imports increased 9.6% to NZD 7.25 billion.

In New Zealand’s close trading partner, China, the People’s Bank of China (PBOC) announced to leave its Loan Prime Rates (LPRs) unchanged on Monday. The one-year and five-year LPRs were at 3.00% and 3.50%, respectively.

The NZD/USD pair comes under pressure as the US Dollar (USD) draws support from heightened safe-haven demand amid re-escalating United States (US)–Iran tensions. Iranian state media, the Islamic Republic News Agency (IRNA), reported that Tehran has refused to resume talks with US officials, citing “unrealistic expectations,” among other concerns.

Iran has kept the Strait of Hormuz blocked since the US and Israeli strikes on February 28. Although authorities briefly signaled a reopening on Friday, they reversed the decision on Saturday after US President Donald Trump declined to lift the blockade on Iranian ports.

US President Trump confirmed on Truth Social that US representatives will travel to Islamabad for negotiations with Iran on Monday. However, he also criticized Tehran’s move to re-close the Strait and reiterated threats to target Iranian infrastructure, including power plants and bridges.

Economic Indicator

Trade Balance NZD (YoY)

Trade balance, released by Statistics New Zealand, is the difference between the value of country's exports and imports, over a period of year. A positive balance means that exports exceed imports, a negative ones means the opposite. Positive trade balance illustrates high competitiveness of country's economy.

GBP/USD: Downward-sloping trendline near 1.3470 remains key barrier

The British pound faces selling pressure against its major currency peers, trading 0.1% lower at around 1.3420 against the US Dollar during the European trading session on Tuesday.

Euro clings to the bid bias above 1.1500

EUR/USD has picked up pace, reversing Monday’s decline and advancing past the 1.1500 barrier on Tuesday. In the meantime, hopes for a diplomatic solution to the Middle East crisis keep the US Dollar under modest downside pressure, helping spot in its recovery.

Ripple Price Forecast: XRP extends technical weakness despite whales increasing exposure

Ripple (XRP) declines for a second day in a row, trading around $1.07 at the time of writing on Tuesday. The remittance token has continued to sustain a bearish outlook, aligning with the broader cryptocurrency market.

Volatility waits for fresh catalyst ahead of US-Iran 'talks'

EU mid-market update: SpaceX and AMD to report after the close; Volatility waits for fresh catalyst ahead of US-Iran 'talks'. - Middle East and energy drives sentiment still.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.