NZD/USD surges to near 0.6050 due to easing US-China trade dispute
- NZD/USD appreciates as the New Zealand Dollar rises amid easing trade tensions between the United States and China.
- US Treasury Secretary Scott Bessent is set to meet with Chinese counterparts in London on Monday.
- The latest stronger US jobs data for May increased the odds of the Fed keeping rates unchanged at its June meeting.
NZD/USD recovered its recent losses registered in the previous session, trading around 0.6040 during the early European hours on Monday. The pair appreciates as the US Dollar (USD) declines, potentially due to a technical correction.
Additionally, the New Zealand Dollar (NZD) receives support from the easing trade-war tensions between the United States (US) and China. US President Donald Trump and China’s Xi Jinping talked and agreed on Thursday to resume trade negotiations aimed at ending the trade war. US Treasury Secretary Scott Bessent, along with two other Trump administration officials, is set to meet with Chinese counterparts in London on Monday.
However, the downside of the US Dollar could be limited due to rising expectations of the Federal Reserve (Fed) keeping its benchmark interest rate unchanged at its next two monetary policy meetings. This sentiment is driven by the stronger-than-expected United States (US) labor market data for May, released on Friday.
On Monday, Citigroup, however, forecasted the Fed to deliver a 25 basis point rate cut each in September, October, and December. The firm also expects the central bank to cut 25 basis points each in January and March 2026.
US Nonfarm Payrolls (NFP) posted 139,000 new jobs added new jobs in non-agricultural businesses in May, higher than the market consensus of 130,000. Moreover, the Unemployment Rate remained steady at 4.2% and the Average Hourly Earnings remained unchanged at 3.9%, both readings came in stronger than the market expectation.
New Zealand Dollar PRICE Today
The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.24% | -0.28% | -0.42% | -0.11% | -0.33% | -0.47% | -0.13% | |
| EUR | 0.24% | -0.06% | -0.20% | 0.11% | -0.08% | -0.22% | 0.09% | |
| GBP | 0.28% | 0.06% | -0.06% | 0.18% | -0.01% | -0.18% | 0.16% | |
| JPY | 0.42% | 0.20% | 0.06% | 0.32% | 0.03% | -0.11% | 0.17% | |
| CAD | 0.11% | -0.11% | -0.18% | -0.32% | -0.25% | -0.36% | -0.02% | |
| AUD | 0.33% | 0.08% | 0.00% | -0.03% | 0.25% | -0.16% | 0.17% | |
| NZD | 0.47% | 0.22% | 0.18% | 0.11% | 0.36% | 0.16% | 0.34% | |
| CHF | 0.13% | -0.09% | -0.16% | -0.17% | 0.02% | -0.17% | -0.34% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).
Author
Akhtar Faruqui
FXStreet
Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.
