S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market- NZD/USD hovers near the five-month high of 0.5979, reached on Thursday.
- Investors remain focused on US trade policy developments, particularly due to New Zealand’s significant export relationship with China.
- The NZD stays rangebound as expectations of further monetary easing by the Reserve Bank of New Zealand.
NZD/USD is trading subdued around 0.5970 during Friday’s Asian session, holding near Thursday’s five-month high of 0.5979 after seven consecutive days of gains. The pair could see further upside as the US Dollar (USD) weakens amid rising concerns over the economic fallout from US tariffs. However, trading volumes are likely to remain thin due to the Good Friday holiday.
Investors are keeping a close eye on developments in US trade policy, especially given New Zealand’s strong export ties with China, its largest trading partner. On Thursday, US President Donald Trump noted that China had made several overtures, adding, “I don’t want to go higher on China tariffs. If China tariffs go higher, people won’t buy.” He expressed optimism that a trade deal could be reached within three to four weeks.
On the economic data front, US Initial Jobless Claims fell to 215,000 for the week ending April 12, beating expectations and down from a revised 224,000. However, Continuing Claims rose by 41,000 to 1.885 million for the week ending April 5.
The New Zealand Dollar (NZD) remains rangebound as expectations of further easing by the Reserve Bank of New Zealand (RBNZ) weigh on sentiment. With inflation still within the RBNZ’s target range, markets are pricing in a rate cut in May and anticipate the Official Cash Rate to fall to 2.75% by year-end.
