The New Zealand dollar rose to $0.607 on Monday, hovering near an eight-month high, supported by continued weakness in the US dollar. A dovish Fed outlook and fiscal concerns weighed on the greenback, while investors awaited US jobs data that could signal labor market softness and bolster the case for a July rate cut. Optimism over global trade negotiations also lifted sentiment, as the US signed a trade deal with China and signaled deals with other key partners are also close. However, the kiwi pared some gains as Chinese data showed private-sector PMI and services activity hit three-month highs, while manufacturing contracted for a third straight month amid deflation concerns. This poses risks to New Zealand exports given the countries’ close trade ties. Domestically, New Zealand’s ANZ Business Outlook Index climbed to 46.3 in June from 36.6 in May, marking the first improvement in sentiment since February as global tariff tensions eased.
Manage Consent
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.
The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.