The New Zealand dollar, paired with the UD dollar, is poised for growth. The current NZDUSD exchange rate is 0.6008.
Although the Kiwi dollar stands at the same level as a month ago, this period has seen sufficient fluctuations.
The positive news for the NZD became generally improving risk appetite after investors believed that the US Federal Reserve might raise interest rates later in 2024. This became possible after the release of mixed US labour sector statistics. Additionally, the market closely follows the development of the Middle East conflict, with a local lull becoming a favourable signal for risky assets.
The Reserve Bank of New Zealand previously stated that it intended to delay a shift towards monetary policy easing until 2025, referring to high inflationary pressure in Q1. Meanwhile, the market is fully ready for an interest rate reduction by October as the employment market data in New Zealand contributes to this fairly well.