nzdusdanalysis

NZD/$USD1
remains stronger above 0.5800 due to RBNZ rate hike bets
NZD/USD gained ground as China’s Retail Sales increased 2.8% YoY in February.
Traders assess the possibility of a Reserve Bank of New Zealand rate hike later this year.
US Dollar weakens as risk aversion eases on reports that the US may announce a coalition to escort ships through Hormuz.

NZD/USD holds gains after four days of losses, trading around 0.5810 during the Asian hours on Monday. The pair remains firm as the New Zealand Dollar (NZD) gains support following the release of key economic data from China. Developments in the Chinese economy often influence the NZD, given the close trade relationship between China and New Zealand.

Data released on Monday by China’s National Bureau of Statistics (NBS) showed Retail Sales increased 2.8% year-over-year (YoY) in February, surpassing expectations of 2.5% and improving from December’s 0.9%. Meanwhile, Industrial Production rose 6.3% YoY during the same period, beating the 5.1% forecast and the previous 5.2% reading.

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NZD/USD falls for third straight day as Iran-US tensions lift safe-haven US Dollar

NZD/$USDE
posts a third consecutive daily decline and breaks below the 0.5800 mark.
Iran’s rejection of a US peace plan revives geopolitical tensions.
The US Dollar benefits from a risk-off environment and stronger safe-haven demand.
NZD/USD extends its downward move on Thursday, trading around 0.5770 at the time of writing, down 0.65% on the day. The pair is now on its third consecutive day of losses after failing to hold near the 0.5900 area reached last week.

The bearish move is primarily driven by a deterioration in market sentiment, as escalating tensions in the Middle East weigh on risk appetite. Iran has rejected a 15-point proposal from the United States (US) aimed at ending the conflict and denied any ongoing negotiations while military operations continue. At the same time, US President Donald Trump called for more serious talks while warning of stronger military action, further increasing uncertainty. This backdrop boosts demand for the US Dollar (USD) and pressures risk-sensitive currencies such as the New Zealand Dollar (NZD).

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