NZD/USD rises near 0.6000, eyes on potential US-China talks

    Lubomir Tassev 2025-06-04 09:59:15

    NZD/USD


    NZD/USD remains positive around 0.6000 in early Asian trading on Wednesday. The U.S. dollar (USD) weakened against the New Zealand dollar (NZD) amid concerns about the impact of U.S. President Trump's tariffs on the U.S. economy and global trade.


    The U.S. dollar edged lower as traders worried about the ongoing tariff uncertainty and the harm it could cause to U.S. economic growth. The U.S. manufacturing sector has been contracting for three consecutive months, which also added to the downward pressure on the dollar.


    In addition, the U.S. Bureau of Labor Statistics (BLS) reported in its Job Openings and Labor Turnover Survey (JOLTS) released on Tuesday that the number of job openings on the last working day of April was 7.39 million, compared with 7.2 million previously. The data was higher than the market's expectation of 7.1 million.


    U.S. Treasury Secretary Scott Bessent said on Sunday that Trump and Xi Jinping are expected to meet soon to resolve the trade dispute, despite China's Ministry of Commerce responding to U.S. accusations that Beijing violated the trade agreement on Monday.


    The market will closely watch the U.S. non-farm payrolls (NFP) report for May, which is expected to show an increase of 130,000 jobs. If the report shows stronger-than-expected results, it could boost the dollar and limit the upside for the pair.

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