The NZD/USD pair gains strength around 0.5745 during Monday’s early Asian session. A weaker US Dollar (USD) and fresh Chinese stimulus support the Kiwi’s rise. Investors now look forward to the US S&P Global Manufacturing PMI for March, set for release later today.
The US Dollar remains weak as concerns over a slowing US economy weigh on sentiment. The latest trade policies from the US administration add further uncertainty. President Donald Trump has announced April 2 as "Liberation Day" for the US, introducing new tariffs to match those imposed by trading partners. These tariffs will impact key industries such as automobiles, pharmaceuticals, and semiconductors, creating additional pressure on the US economy.
Meanwhile, China’s government has introduced new stimulus measures to boost domestic consumption. The ruling Chinese Communist Party’s central committee and state council aim to raise wages and lower financial burdens. These efforts seek to increase consumer confidence and revive the struggling Chinese economy. Given China’s strong trade relationship with New Zealand, these measures support the China-proxy New Zealand Dollar (NZD).
Looking ahead, traders will closely watch the upcoming US PMI data. A weaker-than-expected reading could extend the NZD/USD rally, while stronger data might provide support for the US Dollar. Additionally, further developments in US trade policies and China’s economic recovery will influence the pair’s direction in the coming weeks.
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NZD/USD gains strength around 0.5745 as the US Dollar weakens. Chinese stimulus further supports the Kiwi. Stay updated on Forex trends!
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