The NZD/USD pair gains strength, approaching 0.5630, in thin holiday trading volume. The US Dollar weakens, contributing to the Kiwi pair's upward movement. Expectations of two 25 bps interest rate cuts by the Fed in 2025 and a 50 bps cut by the RBNZ in February influence market sentiment.
NZD/USD gains to near 0.5630 as the US Dollar ticks lower in a thin trading volume day. The Fed is expected to cut interest rates two times next year. Investors expect that the RBNZ will cut interest rates by 50 bps in February. The NZD/USD pair moves higher to near 0.5630 in Friday’s North American session. The Kiwi pair gains as the US Dollar drops in a holiday-thinned trade. The US Dollar Index , which tracks the Greenback’s value against six major currencies, ticks lower to near 107.90.
The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. 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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