NZD/USD remains subdued near 0.5700 due to potential for renewed US-China tensions
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NZD/USD continues its losses for the fourth successive session, trading around 0.5720 during the European hours on Monday. The pair struggles as the New Zealand Dollar (NZD) could face challenges after US President Donald Trump said he plans to block China from accessing Nvidia’s most advanced semiconductor technology, according to CBS News. His remarks could reignite US-China trade tensions, which had eased after his meeting with Chinese President Xi Jinping last Thursday during the APEC Summit in South Korea. The seasonally adjusted Building Permits in New Zealand rose 7.2% month-on-month (MoM) in September, picking up from a 6.1% increase in August and marking the third consecutive monthly gain. Traders await labor market data for the third quarter due later this week. Additionally, the NZD/USD pair depreciates as the US Dollar (USD) receives support from dampening expectations for a December rate cut by the US Federal Reserve (Fed), following the central bank’s decision to lower its benchmark overnight borrowing rate for the second time this year to a range of 3.75%-4.0%. Fed Chair Jerome Powell said during the post-meeting press conference that another rate cut in December is far from certain. Powell also cautioned that policymakers may need to take a wait-and-see approach until official data reporting resumes. Fed funds futures traders are now pricing in a 69% chance of a cut in December, down from 93% a week ago, according to the CME FedWatch Tool. New Zealand Dollar FAQs The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China…
Filed under: News - @ November 3, 2025 8:28 am