FX.co ★ New Zealand Stocks Snap 3-day Slide

The S&P/NZX 50 index increased by 0.3%, settling at 12,582 on Tuesday, effectively breaking a three-day losing streak. This uptick comes as investors eagerly anticipate the Reserve Bank of New Zealand's impending decision on interest rates. The central bank is expected to reduce its official cash rate by 25 basis points for the sixth consecutive meeting on Wednesday, indicating its readiness for further monetary easing in light of a bleak economic outlook influenced by US trade barriers. Market sentiment was bolstered by optimism surrounding potential improvements in US-EU trade relations, following the EU’s agreement to expedite trade negotiations with the US to avert a transatlantic trade conflict. Within the corporate sector, index leaders such as Fisher & Paykel, Infratil, Mercury NZ, Mainfreight, and Spark NZ posted significant gains of 1.5%, 1.35%, 1.2%, 1.3%, and 1.6%, respectively.