Live Updates > Live Update Details
2025-11-03 16:18:19
The New Zealand dollar remained under pressure against the US dollar around 0.5720, mainly due to expectations of a potential escalation of trade tensions. (1) The New Zealand dollar had fallen for three consecutive trading days, trading around 0.5720 on Monday (November 3). According to CBS News, US President Trump's plan to block the export of Nvidia's most advanced semiconductor technology could reignite trade tensions, putting pressure on the New Zealand dollar. (2) Seasonally adjusted New Zealand building permits rose 7.2% month-on-month in September, accelerating from August's 6.1% increase, marking three consecutive months of positive growth. Traders are closely watching the third-quarter labor market data to be released this week. (3) After the Federal Reserve lowered its benchmark interest rate for the second time this year to a range of 3.75%-4.0%, market expectations for a December rate cut cooled, supporting the US dollar and further exacerbating the New Zealand dollar's decline against the US dollar. Federal Reserve Chairman Powell emphasized at the post-meeting press conference that a December rate cut was far from certain and warned policymakers that they might need to adopt a wait-and-see approach until official data releases resume.
