- The US dollar is strengthening in the midst of the growing optimism about the improvement of commercial relations between the US and China.
- President Trump emphasized progress in the conversations and confirmed the recent communication with Chinese President Xi Jinping.
- The New Zealand dollar remains under pressure due to mixed signals from China, despite Trump’s guarantees about the continuation of the negotiations.
The NZD/USD is retreating its recent profits from the previous session, quoting around 0.5960 during the Asian hours on Tuesday. The US dollar (USD) is finding support as optimism about the reduction of commercial tensions between the US and China grows. US President Donald Trump pointed out his openness to reverse tariffs on China, while Beijing granted exemptions on certain US imports, movements that have aroused hopes of a possible resolution to the prolonged commercial conflict between the two greatest economies in the world.
President Trump highlighted the progress in the discussions and confirmed communication with Chinese President Xi Jinping. The Wall Street Journal reported that Trump aims to mitigate the impact of automotive tariffs by preventing overlapping rights on foreign vehicles and reducing taxes on imported cars.
However, the New Zealand dollar (NZD) is under pressure after contradictory signals from China. Despite Trump’s claims about the current trade negotiations, a spokesman for the Chinese embassy firmly denied such conversations, stating: “China and the US are not having any consultation or negotiation on tariffs,” and asked Washington to avoid creating more confusion. The US Treasury Secretary, Besent, reinforced this position, stating that it depends on China to take measures towards the de -escalated, contradicting Trump’s previous indication that the US would relieve the tariffs first.
At the national level, the NZD is weighed by weak data in the labor market, which has strengthened the expectations that the New Zealand Bank reserve (RBNZ) will cut interest rates at 25 basic points next month, with markets valuing in 90% the probability. In addition, the Minister of Finance, Nicola Willis, announced that the base expense in the 2025 budget will be reduced due to deteriorated economic conditions.
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 | 0.28% | 0.21% | 0.28% | 0.25% | 0.21% | 0.38% | 0.43% | |
| EUR | -0.28% | -0.05% | 0.02% | -0.02% | -0.05% | 0.11% | 0.16% | |
| GBP | -0.21% | 0.05% | 0.06% | 0.04% | 0.02% | 0.17% | 0.21% | |
| JPY | -0.28% | -0.02% | -0.06% | -0.04% | -0.06% | 0.04% | 0.16% | |
| CAD | -0.25% | 0.02% | -0.04% | 0.04% | -0.03% | 0.13% | 0.19% | |
| Aud | -0.21% | 0.05% | -0.02% | 0.06% | 0.03% | 0.16% | 0.21% | |
| NZD | -0.38% | -0.11% | -0.17% | -0.04% | -0.13% | -0.16% | 0.05% | |
| CHF | -0.43% | -0.16% | -0.21% | -0.16% | -0.19% | -0.21% | -0.05% |
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).
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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.
