FX.co ★ New Zealand Equities Trade SLightly Higher

In early trading on Tuesday, the NZX 50 Index experienced a modest increase of 8 points, or 0.1%, reaching 12,556. This rise comes as the index attempts to break a three-session losing streak. The movement was influenced by gains in US futures markets following President Trump's decision to delay the imposition of aggressive tariffs on the euro area. Investors are closely watching the Reserve Bank of New Zealand's policy meeting scheduled for Wednesday, with expectations that the central bank will reduce the official cash rate by 25 basis points to settle at 3.25%. The NZX 50 Index remains at its lowest level in two weeks, following its drop to a nine-month low last month, as the market anticipates New Zealand's business outlook report for May, set to be released later in the week. Additionally, market participants are paying attention to speeches from several Federal Reserve officials and the announcement of the Personal Consumption Expenditures (PCE) price indices, which could provide further indications on future interest rate trajectories. Among the sectors, materials, communication services, and utilities showed positive performance, with notable gains from Vulcan Steel (1.7%), Ryman Healthcare (0.8%), Port of Tauranga (0.6%), and Freightways (0.5%).