- NZD/USD weakens the US dollar rising amid escalating geopolitical tensions in the Middle East.
- The United States reaffirmed its commitment to strike the Houthis in Yemen to stop the attacks on the Red Sea shipment.
- The New Zealand dollar has found support from the increasing optimism about the economic expectations of China.
NZD/USD loses the ground after the previous two sessions, and traded about 0.5810 during Asian hours on Tuesday. The husband weakens the US dollar’s recovery (USD) amid increasing geopolitical tensions in the Middle East.
The United States reaffirmed its commitment to strike the Houthis in Yemen until they stop the attacks on the Red Sea shipment, which increases the uncertainty in the market. On Monday, US President Donald Trump warned that he would hold Iran accountable for any Houthi -led attacks in Yemen. Since Trump returned to his post, his administration has expanded the largest American military operation in the Middle East.
However, the US dollar faced renewed pressure as weak economic hypotheses and Trump’s introductory threats that fed the invested uncertainty. US retail sales increased in February, raising concerns about a possible slowdown in consumer spending. The markets are widely expecting that the Federal Reserve (Fed) will maintain its current stance of politics when it concludes its two -day meeting on Wednesday.
The New Zealand dollar (NZD) has received support from the increasing optimism about economic expectations in China. This is followed by powerful retail sales data and new Chinese measures aimed at enhancing consumer spending. Given that China and New Zealand are store partners, any change in the Chinese economy may affect the anti -friendly markets.
However, local data drew a mixed image. On Monday, the NZ performance index in New Zealand (PSI) decreased to 49.1 in February 50.4 in January, indicating a return to deflation in the service sector. This uneven recovery of stagnation enhances expectations to get more price cuts, and is in line with the backup signal in New Zealand (RBNZ) from additional mitigation last month. Traders are now waiting for GDP data in New Zealand later this week, which is expected to show a modest recovery in economic activity.
The price of the New Zealand dollar today
The table below shows the percentage of changing the New Zealand dollar (NZD) against the main currencies listed today. The New Zealand dollar was the weakest against the US dollar.
| US dollar | euro | GBP | JPY | CAD | Aud | Nzd | Chf | |
|---|---|---|---|---|---|---|---|---|
| US dollar | 0.10 % | 0.12 % | 0.28 % | 0.12 % | 0.21 % | 0.11 % | 0.04 % | |
| euro | -0.10 % | 0.00 % | 0.18 % | 0.00 % | 0.10 % | -01 % | -07 % | |
| GBP | -0.12 % | -01 % | 0.17 % | -0.00 % | 0.09 % | -01 % | -08 % | |
| JPY | -0.28 % | -18 % | -0.17 % | -16 % | -07 % | -0.20 % | -0.24 % | |
| CAD | -0.12 % | -0.00 % | 0.00 % | 0.16 % | 0.11 % | -0.00 % | -07 % | |
| Aud | -0.21 % | -0.10 % | -0.09 % | 0.07 % | -11 % | -11 % | -16 % | |
| Nzd | -11 % | 0.00 % | 0.01 % | 0.20 % | 0.00 % | 0.11 % | -06 % | |
| Chf | -04 % | 0.07 % | 0.08 % | 0.24 % | 0.07 % | 0.16 % | 0.06 % |
The heat map shows the percentage changes in the main currencies against each other. The basic currency is chosen from the left column, while the quotation currency is chosen from the top row. For example, if you choose the New Zealand dollar from the left column and move along the horizontal line to the US dollar, the percentage offered in the box will represent NZD (Base)/USD (Quote).
