NZD/USD Slides as Mixed NZ Data Shifts Rate Hike Expectations – Forex News
The Recent Zealand dollar (NZD) edged lower against the US dollar (USD) on Tuesday, trading around 0.6050, as investors digested mixed economic signals from New Zealand and shifting expectations for monetary policy in the United States.
New Zealand’s latest economic data presented a complex picture. While the unemployment rate rose to its highest level in a decade, indicating some softening in the labor market, employment figures unexpectedly increased, surpassing forecasts and suggesting continued economic resilience. This conflicting data has dampened expectations for near-term interest rate hikes by the Reserve Bank of New Zealand (RBNZ). Markets are now pricing in a rate increase starting in October, though the possibility of a move as early as September remains.
The RBNZ is scheduled to hold its next meeting on February 18th, the first under the leadership of new Governor Anna Briman. Analysts widely anticipate the central bank will hold rates steady, alongside an update to its economic forecasts and interest rate projections.
Meanwhile, the US dollar is facing headwinds amid renewed concerns about the strength of the US labor market. Comments from White House advisor Kevin Hassett, suggesting a potential weakening of labor demand in the coming months, have influenced expectations for the next jobs report and increased bets on interest rate cuts by the Federal Reserve (Fed) later this year. According to CME Group’s FedWatch tool, markets are assigning a 17% probability of a rate cut in March and a 34% probability in April, with the chance of easing by June approaching 75%.
Recent remarks from Federal Reserve officials have also highlighted internal divisions within the central bank. Governor Christopher Waller downplayed the inflationary impact of tariffs and reiterated his call for further rate reductions, while Atlanta Fed President Raphael Bostic pointed to volatile employment data and cautioned about concerns surrounding the dollar’s stability.
Investors are now turning their attention to US retail sales figures, which are expected to show a 0.4% increase in January following a 0.6% rise in November. Excluding automobiles, sales are forecast to slow to 0.3% from 0.5% previously. This data release could influence the near-term trajectory of the US dollar and, the NZD/USD exchange rate.
As of 12:10 UTC on February 10, 2026, 1 NZD equals 0.604358 USD, according to XE.com. Exchange rates are subject to change.
The following table illustrates the percentage change in the New Zealand dollar (NZD) against major currencies today:
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
| USD | 0.06% | 0.24% | -0.42% | 0.03% | 0.27% | 0.18% | -0.03% | |
| EUR | -0.06% | 0.17% | -0.50% | -0.03% | 0.21% | 0.12% | -0.10% | |
| GBP | -0.24% | -0.17% | -0.68% | -0.20% | 0.03% | -0.06% | -0.27% | |
| JPY | 0.42% | 0.50% | 0.68% | 0.47% | 0.71% | 0.61% | 0.40% | |
| CAD | -0.03% | 0.03% | 0.20% | -0.47% | 0.24% | 0.15% | -0.06% | |
| AUD | -0.27% | -0.21% | -0.03% | -0.71% | -0.24% | -0.09% | -0.30% | |
| NZD | -0.18% | -0.12% | 0.06% | -0.61% | -0.15% | 0.09% | -0.21% | |
| CHF | 0.03% | 0.10% | 0.27% | -0.40% | 0.06% | 0.30% | 0.21% |