New Zealand Dollar Holds Near 1-Month High

The New Zealand dollar rose more than 1% to $0.568, its highest level in three weeks, after the Reserve Bank cut interest rates as expected but signaled it may be nearing the end of its easing cycle.

The RBNZ lowered its cash rate by 25bps to 2.25%, the lowest level since June 2022, as it aims to support a sluggish economic recovery.

However, the central bank's updated projections had a more hawkish tilt, with its forward guidance showing the cash rate falling to 2.2% in the second quarter next year, implying only a modest chance of an additional cut.

By the end of 2026, the rate is projected to rise slightly to 2.28%.

This prompted traders to sharply scale back expectations for further easing.

EUR/USD

• 1.1680 (EUR 1.30 bn)
• 1.1625 (EUR 1.39 bn)
• 1.1500 (EUR 1.50 bn)

USD/JPY

• 155.00 (US$ 761.93 mn)

GBP/USD

• 1.3435 (GBP 282.82 mn)

USD/CHF

• 0.8050 (US$ 408.74 mn)
• 0.7870 (US$ 212.00 mn)

USD/CAD

• 1.4200 (US$ 519.71 mn)
• 1.4120 (US$ 723.08 mn)
• 1.3970 (US$ 770.60 mn)
• 1.3900 (US$ 693.89 mn)

AUD/USD

• 0.6550 (AUD 3.03 bn)

NZD/USD

• 0.5480 (NZD 1.01 bn)

EUR/GBP

• 0.8810 (EUR 409.27 mn)

For more information on how to use this data, you may refer to this post here. This article was written by Giuseppe Dellamotta at investinglive.com.

EUR/USD

• 1.1600 (EUR 2.11 bn)
• 1.1500 (EUR 3.00 bn)

USD/JPY

• 155.00 (US$ 1.61 bn)

GBP/USD

• 1.3250 (GBP 1.05 bn)
• 1.2900 (GBP 597.22 mn)

USD/CHF

• 0.8050 (US$ 280.70 mn)
• 0.7940 (US$ 302.49 mn)

USD/CAD

• 1.4055 (US$ 278.90 mn)
• 1.3275 (US$ 340.00 mn)

AUD/USD

• 0.6500 (AUD 689.52 mn)
• 0.6550 (AUD 445.6 mn)

NZD/USD

• 0.5675 (NZD 300.00 mn)
• 0.5455 (NZD 530.00 mn)

EUR/GBP

• 0.8750 (EUR 843.50 mn)

For more information on how to use this data, you may refer to this post here. This article was written by Giuseppe Dellamotta at investinglive.com.

EUR/USD • 1.1500 – €2.05bn • 1.1630 – €1.19bn • 1.1600 – €1.07bn

USD/JPY • 155.00 – $1.49bn • 150.00 – $1.3bn

AUD/USD • 0.6550 – AUD739.4m • 0.6500 – AUD736.7m • 0.6530 – AUD422.4m

GBP/USD • 1.3250 – £679m • 1.2800 – £597.2m • 1.2750 – £567.7m

NZD/USD • 0.5675 – NZD300m

EUR/GBP • 0.8750 – €523.6m

USD/CNY • 7.1089 – $1.2bn • 7.1080 – $770m

Market note: Clusters in EUR/USD and USD/JPY may help anchor spot intraday, with AUD strikes adding weight around 0.65–0.6550 into the roll. This article was written by Eamonn Sheridan at investinglive.com.

EUR/USD

• 1.1600 (EUR 1.40bn)

USD/JPY

• 153.00 (US$ 1.26bn)

GBP/USD

• 1.3200 (GBP 407.6mn)
• 1.3100 (GBP 520.2mn)

AUD/USD

• 0.6500 (AUD 640.1mn)
• 0.6300 (AUD 445.6mn)

NZD/USD

• 0.5730 (NZD 434.5mn)

For more information on how to use this data, you may refer to this post here. This article was written by Giuseppe Dellamotta at investinglive.com.

The New Zealand dollar fell to $0.563, hovering near a seven-month low, amid expectations that the Reserve Bank will cut interest rates again next week.

Markets have fully priced in a 25bps reduction, following a run of weak economic indicators that reinforced the need for further policy stimulus.

Adding to this, data out today showed producer prices rose less than expected in third quarter, signaling that price pressures are easing.

However, analysts recently noted that this could be the final cut in the current easing cycle, barring any significant deterioration in global economic conditions.

Meanwhile, President Donald Trump last week lifted tariffs on more than 200 food products in response to rising US grocery prices.

The affected goods account for about 25% of New Zealand’s exports to the US, a move that is expected to provide support to the Antipodean country’s export sector.