周二，新西兰元在连续五次下跌后上涨至0.574美元左右，因为对美国可能免除关税的乐观情绪为出口驱动型货币提供了一些缓解。然而，投资者对特朗普总统计划对汽车、制药和其他行业征收的关税及其对全球增长的潜在影响仍持谨慎态度。在国内，尽管上周公布了强劲的GDP数据，但市场仍预计新西兰联储将进一步放松货币政策。在2月份的会议上，政策制定者表示，4月和5月将降息25个基点，今年晚些时候可能还会降息第三个基点。与此同时，新西兰人可能会从中国旨在促进消费的预期刺激计划中获得支持，鉴于中国作为主要贸易伙伴的作用，这可能会使新西兰的出口受益。

The New Zealand dollar rose to around $0.574 on Tuesday after five consecutive declines, as optimism over possible US tariff exemptions provided some relief to the export-driven currency. However, investor caution persists over upcoming duties on autos, pharmaceuticals, and other industries planned by President Trump and their potential impact on global growth. Domestically, despite last week’s strong GDP data, markets still expect further monetary easing from the RBNZ. In their February meeting, policymakers signaled two 25bps cuts in April and May, with a possible third later in the year. Meanwhile, the Kiwi could find support from anticipated Chinese stimulus aimed at boosting consumption, potentially benefiting New Zealand exports given China’s role as a key trade partner.

周二，新西兰基准标准普尔/NZX 50指数上涨0.5%，收于12185点，连续第三个交易日上涨，因为人们越来越乐观地认为，即将到来的4月2日美国互惠关税最后期限可能会带来比预期更温和的措施。唐纳德·特朗普总统表示，“许多国家”可能会获得关税豁免，但确认即将对汽车、药品和铝征收关税。在经济方面，新西兰第一季度的就业信心减弱，西太平洋银行麦克德莫特-米勒指数从2024年第四季度的91.6降至88.3，这表明劳动力条件疲软。在企业新闻方面，Spark NZ在宣布贝莱德及其附属公司将其在该公司的股份从5.9%增加到8.1%后，股价上涨了4%以上。Solution Dynamics在市场份额回购消息传出后上涨了1%以上。其他显著上涨的股票包括斐雪派克（+1.4%）、新西兰水星（+1.8%）和陶朗加港（+2.3%）。

New Zealand's benchmark S&P/NZX 50 closed 0.5% higher to 12,185 on Tuesday, marking its third consecutive session of gains, as optimism grew that the looming April 2 deadline for US reciprocal tariffs may bring milder measures than expected. President Donald Trump indicated that "a lot of countries" could receive tariff exemptions but confirmed upcoming duties on autos, pharmaceuticals, and aluminum. On the economic front, New Zealand's employment confidence weakened in Q1, with the Westpac McDermott Miller Index falling to 88.3 from 91.6 in Q4 2024, signaling subdued labor conditions. In corporate news, Spark NZ jumped over 4% after announcing that BlackRock and its affiliates increased their stake in the company to 8.1% from 5.9%. Solution Dynamics gained more than 1% following news of an on-market share buyback. Other notable gainers included Fisher & Paykel (+1.4%), Mercury NZ (+1.8%), and Port of Tauranga (+2.3%).

周二，新西兰元继续下跌至0.572美元左右，徘徊在一周低点附近，因为新西兰联储政策放松和美国互惠关税迫在眉睫的前景对出口驱动型货币造成了压力。特朗普总统宣布对汽车、制药和其他行业征收关税，同时暗示一些国家可能会在4月2日获得豁免或减税。在国内，尽管上周公布了强劲的GDP数据，但市场仍预计央行将进一步放松政策。政策制定者在2月份的会议上表示，4月和5月将两次降息25个基点，今年晚些时候可能会降息第三次。与此同时，新西兰人可能会从中国旨在刺激消费的预期刺激中得到缓解，鉴于中国作为主要贸易伙伴的作用，这可能会促进新西兰的出口。

The New Zealand dollar extended its decline to around $0.572 on Tuesday, hovering near a one-week low, as prospects of looser RBNZ policy and looming US reciprocal tariffs weighed on the export-driven currency. President Trump announced duties on autos, pharmaceuticals, and other industries while hinting that some nations may receive exemptions or reductions on April 2. At home, despite last week’s strong GDP data, markets still anticipate further easing from the central bank. Policymakers signaled during their February meeting two 25bps cuts in April and May, with a potential third later in the year. Meanwhile, the Kiwi could find relief from expected Chinese stimulus designed to spur consumption, which may boost New Zealand exports given China’s role as a key trade partner.

周二早盘，新西兰元50指数上涨42点，涨幅0.3%，至12170点，这是该指数第四个交易日上涨。周一，华尔街出现反弹，有迹象表明美国的贸易制裁可能没有人们担心的那么严重，包括特朗普总统建议一些国家可以获得豁免。在最大的贸易伙伴中国，中国央行重申了今年晚些时候下调银行存款准备金率和利率的计划，以支持疲软的经济。耐用消费品、医疗保健和能源矿产领涨，尽管全球存在不确定性，但对新西兰经济复苏持乐观态度。2024年第四季度，该国国内生产总值环比增长0.7%，扭转了由于旅游业激增和新西兰储备银行货币宽松政策的影响而连续两次下降的局面。进一步上涨的是，有报道称，由于劳动力条件仍然低迷，新西兰的就业信心在2025年第一季度下降。一些早期推动者包括Ryman Healthcare有限公司（2.9%）、Spark NZ有限公司（2.3%）和Genesis Energy有限公司（1.4%）。

The NZX 50 rose 42 points or 0.3% to 12,170 in Tuesday morning trade, marking its fourth session of gains. The advance followed a Wall Street rally Monday, driven by signs that U.S. trade sanctions may be less severe than feared, including President Trump’s suggestion that some countries could receive exemptions. In top trading partner China, the PBoC reiterated plans to cut banks' RRR and interest rates later this year to support the sluggish economy. Consumer durables, healthcare, and energy minerals led the gains, on optimism over New Zealand’s economic recovery despite global uncertainty. The country’s GDP grew 0.7% qoq in Q4 of 2024, reversing two consecutive declines due to a surge in tourism and the effects of RBNZ’s monetary easing. Capping further gains were reports that employment confidence in New Zealand fell in Q1 of 2025 as labor conditions remained subdued. Some early movers included Ryman Healthcare Ltd. (2.9%), Spark NZ Ltd. (2.3%), and Genesis Energy Ltd. (1.4%).