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>>Following Trump's fiery State of the Union speech, the US dollar sinks, sending NZD/USD up to 0.5980.

Following Trump's fiery State of the Union speech, the US dollar sinks, sending NZD/USD up to 0.5980.

crypthub

about 6 hours ago

NZD/USD Surge

The pair climbed to around 0.5980, a 1.2% rise and its strongest one‑day gain in three weeks. The advance followed a broad US dollar correction after former President Trump’s State of the Union response, with the DXY down 0.8% to 103.25. Trading volume surged to 150% of the 30‑day average, moving from 0.5915 to 0.5982 within six hours.

Political Catalysts

Trump’s remarks on Federal Reserve independence, trade policy and higher deficit spending sparked dollar sell‑off and pushed Treasury yields lower. The New Zealand dollar benefited from a relatively hawkish RBNZ stance and solid fundamentals, including stable dairy prices, strong tourism recovery, robust employment data, and China’s demand. These factors reinforced NZD strength against most G10 currencies.

Technical Outlook

0.5980 aligns with the 50‑day moving average, while immediate resistance sits near 0.6000 and support at 0.5950 and 0.5900. RSI at 58 and a bullish MACD crossover suggest upside potential without overbought conditions. Traders should monitor US inflation, Fed commentary, NZ GDP releases and dairy auction results for the next directional cue.