Select Language

NZD/USD pulls back toward 0.5800 ahead of RBNZ decision

Breaking news

NZD/USD pulls back toward 0.5800 ahead of RBNZ decision

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.10.08 00:44
NZD/USD pulls back toward 0.5800 ahead of RBNZ decision

update 2025.10.08 00:44

  • The New Zealand Dollar erases recent gains as markets anticipate another rate cut from the Reserve Bank of New Zealand.
  • Investors are split between a 25 or 50 basis point rate cut following the second-quarter GDP contraction.
  • The US Dollar strengthens, supported by weakness in the Euro and the Yen.

NZD/USD retreats on Tuesday, extending consolidation below 0.5840 to trade near 0.5810 at the time of writing. Market participants turn their attention to the Reserve Bank of New Zealand's (RBNZ) monetary policy decision due on Wednesday.

The New Zealand central bank is widely expected to cut its Official Cash Rate (OCR), currently at 3%, to support a weakening economy. However, markets remain divided between a 25-basis-point reduction to 2.75% and a more aggressive 50-basis-point move to 2.50%. The move would be the eighth rate cut since August 2024.

According to Brown Brothers Harriman, "the 0.9% GDP contraction in the second quarter leaves scope for the RBNZ to front-load rate cuts." The RBNZ had already indicated in September that "there is scope to lower the Official Cash Rate further."

Commerzbank also considers a 25-basis-point cut as the most likely scenario, adding that "the market has already fully priced in this decision," and that "the New Zealand Dollar (NZD) is therefore unlikely to react strongly." The bank notes, however, that persistently weak growth and recent signs of cooling inflation are likely to prompt the RBNZ to continue its easing cycle in the coming months.

Meanwhile, the US Dollar (USD) remains firm, supported by political and fiscal uncertainty in France and Japan, which weighs on the Euro (EUR) and the Japanese Yen (JPY). Investors are still confident that the US Federal Reserve (Fed) will deliver rate cuts in October and December, which nonetheless limits the Greenback's upside potential.

New Zealand Dollar Price Today

The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the strongest against the Japanese Yen.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.36% 0.30% 0.53% -0.01% 0.32% 0.57% 0.19%
EUR -0.36% -0.05% 0.19% -0.36% -0.00% 0.22% -0.03%
GBP -0.30% 0.05% 0.24% -0.31% 0.09% 0.23% 0.01%
JPY -0.53% -0.19% -0.24% -0.54% -0.18% -0.06% -0.37%
CAD 0.01% 0.36% 0.31% 0.54% 0.32% 0.54% 0.33%
AUD -0.32% 0.00% -0.09% 0.18% -0.32% 0.09% -0.07%
NZD -0.57% -0.22% -0.23% 0.06% -0.54% -0.09% -0.30%
CHF -0.19% 0.03% -0.01% 0.37% -0.33% 0.07% 0.30%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).


Date

Created

 : 2025.10.08

Update

Last updated

 : 2025.10.08

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

USD/CAD extends losses as weak US Consumer Confidence weighs, BoC and Fed eyed

The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Tuesday as the Greenback weakens following the latest US Consumer Confidence report. At the time of writing, USD/CAD is trading around 1.3944, extending losses for the second consecutive day and down roughly 0.30%.
New
update2025.10.29 00:32

USD/CHF declines for fourth day as Swiss Franc gains, Fed rate cut expected

USD/CHF trades lower on Tuesday, around 0.7930 at the time of writing, down 0.27% for the day. The pair extends its four-day losing streak as the Swiss Franc (CHF) strengthens amid fading expectations of further monetary easing by the Swiss National Bank (SNB).
New
update2025.10.29 00:13

GBP/USD sinks below 1.33 as UK fiscal woes deepen ahead of budget

The GBP/USD dives more than 0.50% on Tuesday as market participants digested news of the UK's Office for Budget Responsibility (OBR), which plan to cut productivity, leading to a huge hole in the public finances. The pair tumbled below 1.3300 for the first time since mid-October.
New
update2025.10.29 00:07

GBP underperforms versus USD - Scotiabank

Pound Sterling (GBP) is a moderate underperformer on the session so far, falling 0.1% against the US Dollar (USD) at writing after giving up early gains through the upper 1.33s in Asian trade.
New
update2025.10.28 23:24

EUR grinds cautiously higher for fifth day - Scotiabank

The Euro (EUR) is grinding slowly but surely higher, with the support of short-term spreads which are maintaining the recent compression in EZ/US short-term yields, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
update2025.10.28 23:23

CAD is little changed on the day - Scotiabank

Spot is little changed.
New
update2025.10.28 23:21

USD mixed to marginally lower - Scotiabank

The US Dollar (USD) is mixed but tracking a little lower overall as the Dollar Index (DXY) continues to drift back from the 99 zone where the index appears to have peaked after its latest run higher, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
update2025.10.28 23:19

GBP/JPY slips to one-week low as Yen firms on intervention risk and trade optimism

The British Pound (GBP) fell sharply against the Japanese Yen (JPY) on Tuesday as the Yen strengthened across major peers, recovering from recent weakness tied to Japan's political and fiscal developments.
New
update2025.10.28 23:09

EUR/JPY weakens as Yen rises on US-Japan deal, ECB and BoJ meetings eyed

EUR/JPY weakens on Tuesday, falling 0.50% for the day to around 177.10 at the time of writing, after hitting a multi-year high at 178.23 the previous day, and halting a five-day winning streak.
New
update2025.10.28 22:59

EUR/GBP hits multi-year highs past 0.8760 amid generalised Pound weakness

The Euro accelerated its rally against a weaker British Pound on Tuesday to reach its highest level in two years, and is about to break the November 2023 high at 0.8765 at the time of writing.
New
update2025.10.28 21:45

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel