NZD/USD Approaches 0.6000 as US Dollar Slips on Trade Concerns and JOLTS Data

NZD/USD Nears 0.6000 as US Dollar Weakens on Tariff Concerns

NZD/USD Gains Ground in Asian Trade Amid Tariff Jitters

The NZD/USD pair rallied to hover near the 0.6000 mark early Wednesday in the Asian session, as investors sold the US Dollar (USD) on fears that prolonged tariff disputes under the Trump administration could further damage the global economic outlook. The New Zealand Dollar (NZD) found support from a weakening Greenback and relatively calmer risk sentiment.

US Job Data Beats, But Tariff Worries Weigh Heavier

While the US JOLTS Job Openings report showed a stronger-than-expected reading of 7.39 million in April, above the forecast of 7.1 million, this positive surprise was overshadowed by persistent trade concerns and ongoing signs of US economic weakness.

The US manufacturing sector, for instance, has now recorded three straight months of contraction, which continues to drag on the USD’s overall performance.

Explore more: How US Jobs Data Impacts Forex

Trump-Xi Call in Focus as Market Seeks Clarity

A scheduled call between US President Donald Trump and Chinese President Xi Jinping is adding a layer of anticipation for traders. While no specific outcomes are guaranteed, markets are hoping for signs of de-escalation in the long-running US-China tariff dispute.

Related reading: US-China Trade Relations: Latest Timeline

NZD/USD Technical Levels to Watch

The 0.6000 level is acting as short-term resistance for NZD/USD, with any further USD softness potentially clearing the way for a breakout. Support is seen near 0.5940, and broader momentum will hinge on upcoming US economic releases and any developments from the Trump-Xi conversation.

Suggested Internal Links:

• Understanding NZD/USD Price Drivers
• What the JOLTS Report Means for Forex Traders
• Trump’s Tariff Policy and Its Market Effects