NZD/USD Holds Steady at 0.6050 as Traders Await US-China Trade Outcome

NZD/USD Steady Around 0.6050 Ahead of US-China Trade Results and CPI Data

Kiwi Dollar Flat in Cautious Market Mood

NZD/USD continues to trade within a tight range around 0.6050 in Tuesday’s European session, as traders await updates from the ongoing US-China trade talks taking place in London. Market participants are exercising caution ahead of any concrete breakthrough, despite initial optimism voiced by US officials.

The US Dollar Index (DXY) hovers near 99.00, reflecting a calm stance across major FX pairs. At the same time, S&P 500 futures exhibit minimal movement, highlighting a risk-off tone in broader markets.

Eyes on US CPI and RBNZ Rate Outlook

Traders are also watching the upcoming US Consumer Price Index (CPI) data for May, due Wednesday, which is expected to show accelerated inflation. A hotter-than-expected print could push the USD higher, influencing NZD/USD direction.

In parallel, the Reserve Bank of New Zealand (RBNZ) is under scrutiny as markets speculate whether the central bank could cut interest rates again during its July policy meeting.

Learn More: How CPI Data Impacts Currency Pairs Like NZD/USD
Live Data Access: NZD/USD Charts, Indicators & Forecasts

Outlook: Wait-and-See Mode Prevails

Until there is clarity on both the US-China trade front and the US inflation path, NZD/USD is likely to remain range-bound. However, sharp moves could follow depending on trade negotiation outcomes or a surprising inflation reading.