NZD/USD Transfer
The New Zealand Dollar (NZD) started the week on the back foot extending declines lower from 0.5830’s last week’s high against the US Dollar (USD) to trade around 0.5715 levels into Tuesday. Pressure for the kiwi remains to the downside after the stall at 0.5830 with global tension and trade tariff threats. The Fed’s Bostic signalled he only sees one cut in 2025 saying he doesn’t expect inflation to be under 2.0% until well into 2027 with businesses expected to pass on tariff expense to consumers. Big picture geopolitics should dominate how the cross trades this week. Strong support stands at 0.5680.
Current Level: 0.5724
Support: 0.5680
Resistance: 0.5830
Last week’s range: 0.5721 – 0.5830
