The NZD/USD pair pares some intraday losses after nosediving to an over-two-year low near 0.5516 in Monday’s European session.
NZD/USD rebounds after diving to a more than two-year low of 0.5516, but the outlook is still bearish. US President Trump has imposed a 25% tariff on Canada and Mexico and 10% on China . This week, investors will pay close attention to the US NFP data for January.
Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD.
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