NZD/USD Trading Update

On Thursday during Asian trade, the NZD/USD pair was performing positively at around 0.5960. The New Zealand dollar has gained strength against the US dollar, likely influenced by news that the US and Iran are nearing an agreement to end their ongoing conflict. Traders seem to be waiting for the US jobs data for April, which is set to be released later on Friday.

CNN indicated that Iran is scheduled to deliver its response to the US proposal regarding the war, handing it to a mediator today. On Wednesday, US President Donald Trump mentioned the talks with Iran had been “very good” over the previous 24 hours. A resolution to the conflict and the reopening of the Strait of Hormuz might positively impact riskier assets, including the US dollar.

As for the upcoming US employment report, economists are predicting a gain of 60,000 jobs in April, while the unemployment rate is anticipated to remain unchanged at 4.3%. Should the numbers exceed expectations, it could support the US dollar and create challenges for the NZD/USD pair.

In other news, New Zealand’s unemployment rate surprisingly dropped to 5.3% in the first quarter of 2026, down from 5.4%. This has kept market expectations alive for a potential interest rate increase by the Reserve Bank of New Zealand (RBNZ).

RBNZ Governor Anna Breman noted earlier on Thursday her expectations for a slight uptick in short-term inflation. She added that while growth might slow this year, it’s still projected.