周四，新西兰元上涨至0.603美元左右，延续了前一交易日的涨势，受到美元普遍疲软的支撑。美元徘徊在六周低点附近，此前疲软的美国经济数据再次引发了人们对美国经济健康状况的担忧。与此同时，投资者在美国贸易谈判持续存在的不确定性中保持谨慎，在7月初的最后期限之前几乎没有取得进展。市场参与者将密切关注定于本周晚些时候举行的美中贸易谈判的进展。在国内方面，新西兰储备银行上周将利率下调25个基点至3.25%，但5月份的决定表明，宽松周期可能即将结束。市场现在预计，新西兰储备银行将在7月份的会议上保持利率稳定，同时预计8月份降息的可能性约为70%，这可能是周期的最后一次。

The New Zealand dollar rose to around $0.603 on Thursday, extending gains from the previous session, supported by broad weakness in the US dollar. The greenback stuck near six-week lows after weak US economic data reignited concerns about the health of the US economy. Meanwhile, investors remain cautious amid ongoing uncertainty around US trade negotiations, with little progress made ahead of the early July deadline. Market participants will closely watch developments in the US-China trade talks scheduled for later this week. On the domestic front, the Reserve Bank of New Zealand cut its rates by 25bps to 3.25% just last week, but the May decision suggests the easing cycle may be nearing its end. Markets now expect the RBNZ to hold rates steady at its July meeting, while pricing in about a 70% chance of a rate cut in August — which could be the last of the cycle.

周四早盘，新西兰元50指数上涨75点，涨幅0.6%，至12569点，标志着在物流、非能源矿产和医疗保健股走强的情况下连续第二个交易日上涨。该指数触及一周来的最高水平，在贸易方面的潜在发展和低于预期的美国就业数据之前，周三华尔街的表现喜忧参半。与此同时，经济合作与发展组织（OECD）将中国今年的GDP增长预测保持在4.7%，同时警告称，新西兰最大贸易伙伴的出口可能会“受到美国新征收关税的限制”。与此同时，随着生产越来越本地化，中国的进口可能会下降。早期涨幅居前的是埃博斯集团（上涨3.0%）、有限公司（2.8%）和弗莱彻大厦（1.6%）。相比之下，Vector Ltd.股价下跌0.5%，此前有消息称其首席执行官将于年底辞职，目前正在寻找继任者。

The NZX 50 rose 75 points or 0.6% to 12,569 on Thursday morning trade, marking the second straight session of gains amid strength in logistics, non-energy minerals, and healthcare stocks. The index hit its highest level in a week, shrugging off a mixed performance on Wall Street Wednesday ahead of potential developments on the trade front and weaker-than-expected U.S. employment data. Meanwhile, the Organisation for Economic Co-operation and Development (OECD) kept its forecast for China’s GDP growth this year at 4.7% while cautioning that exports from New Zealand's largest trading partner could be “curbed by the newly imposed U.S. tariffs.” At the same time, Chinese imports may fall as production becomes increasingly localized. Among early top movers were Ebos Group (up 3.0%), Serko Ltd. (2.8%), and Fletcher Building (1.6%). In contrast, Vector Ltd. slipped 0.5% following news that its CEO will step down at the end of the year, with the search for a replacement currently underway.

新西兰基准标准普尔/NZX 50指数周三上涨1.4%，收于12495点，从前一交易日0.7%的跌幅中恢复过来。受芯片股上涨和4月就业岗位空缺数据强于预期的推动，美国股市出现反弹。投资者现在正在等待美国与其贸易伙伴之间可能进行的谈判，以进一步明确华盛顿的关税计划。美国总统唐纳德·特朗普和中国习近平主席本周可能举行的会晤也引发了人们对缓和世界上最大的两个经济体之间贸易紧张局势的乐观情绪。各行业涨幅广泛，公用事业提供商Meridian Energy（3.05%）、Mercury NZ（4.2%）和Vector（4.2%）表现强劲。澳大利亚西太平洋银行和澳新银行的本地股票也分别上涨了2.6%和2.0%。其他表现突出的大盘股包括奥克兰国际机场（2.9%）、a2 Milk（3.9%）和Spark NZ（2.5%）。

New Zealand's benchmark S&P/NZX 50 index climbed 1.4% to close at 12,495 on Wednesday, recovering from a 0.7% decline in the previous session. The index followed a rally in US equities, boosted by rises in chip stocks and stronger-than-expected job openings data for April. Investors now await possible negotiations between the US and its trading partners for greater clarity on Washington's tariff plans. A potential meeting between US President Donald Trump and Chinese President Xi Jinping this week also fueled optimism for a soothing of trade tensions between the world’s two largest economies. Gains were broad-based across sectors, with strong moves seen in utility providers Meridian Energy (3.05%), Mercury NZ (4.2%), and Vector (4.2%). Local shares of Australian banks Westpac and ANZ also rose 2.6% and 2.0%, respectively. Other notable large-cap performers included Auckland Intl Airport (2.9%), a2 Milk (3.9%), and Spark NZ (2.5%).

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The New Zealand dollar held its recent decline to around $0.599 on Wednesday as investor attention continues to center on ongoing tariff uncertainty. US President Trump’s latest threat to double tariffs on steel and aluminum imports will come into effect later today. Meanwhile, markets are closely watching for a possible meeting between President Trump and Chinese President Xi Jinping later this week, days after both sides accused each other of violating the trade truce. China is New Zealand’s top trading partner and any developments in Sino-US trade relations could have a significant effect on the Kiwi dollar. Domestically, the Reserve Bank of New Zealand recently trimmed its official cash rate, but the May move suggests the easing cycle may be approaching its end. Markets now expect the RBNZ to hold rates steady at its July meeting and assigning about a 70% probability to a rate cut in August instead — which would mark the final move of the current easing cycle.