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IPC Index — Mexico Market
- NZD/USD remains broadly firm above 0.5900 as market sentiment turns favorable for riskier assets.
- Iran’s confirmation for another round of peace talks with the US has improved investors’ risk appetite.
- NZ Q1 CPI grew at a stronger pace of 0.9%m beating 0.8% estimates.
The NZD/USD pair trades 0.3% higher above 0.5900 during the Asian trading session on Tuesday, but struggles to extend its gains above 0.5920. The Kiwi pair broadly reflects strength as the market sentiment turns risk-on due to reports claiming that Iran has agreed to another round of peace talks with the United States (US).
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 Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.12% | 0.14% | 0.10% | 0.02% | 0.15% | -0.13% | 0.12% | |
| EUR | -0.12% | 0.03% | -0.02% | -0.10% | 0.04% | -0.25% | 0.01% | |
| GBP | -0.14% | -0.03% | -0.04% | -0.11% | 0.00% | -0.28% | -0.01% | |
| JPY | -0.10% | 0.02% | 0.04% | -0.07% | 0.05% | -0.26% | 0.02% | |
| CAD | -0.02% | 0.10% | 0.11% | 0.07% | 0.12% | -0.18% | 0.10% | |
| AUD | -0.15% | -0.04% | -0.01% | -0.05% | -0.12% | -0.30% | -0.02% | |
| NZD | 0.13% | 0.25% | 0.28% | 0.26% | 0.18% | 0.30% | 0.28% | |
| CHF | -0.12% | -0.01% | 0.01% | -0.02% | -0.10% | 0.02% | -0.28% |
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).
In the Asian trade, S&P 500 futures are 0.15% higher to near 7,120, reflecting an upbeat market mood. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is marginally higher to near 98.10.
A report from the Wall Street Journal (WSJ) states that Iran has told regional mediators that it would send a negotiating team to Islamabad on Tuesday for the second round of talks with the US. However, there has been no official confirmation by Tehran.
On Monday, Iran’s foreign ministry spokesperson Esmail Baghaei said that there is “no plan for a second round of negotiations with the US for now. Baghaei added that the US seems “not serious” about pursuing the diplomatic process, remains committed to ‘aggressive acts’ and has violated ceasefire provisions.
On the domestic front, higher-than-projected New Zealand (NZ) Q1 Consumer Price Index (CPI) data is expected to force traders to raise bets supporting interest rate hikes by the Reserve Bank of New Zealand (RBNZ) in the near term.
Earlier in the data, the data showed that the NZ CPI grew by 0.9%, beating estimates of 0.8% and the previous reading of 0.6%. On an annualized basis, price pressures rose steadily by 3.1%. while they were anticipated to have grown at a moderate pace of 2.9%.
