FX.co ★ New Zealand Stocks Rise for 3rd Straight Day

New Zealand's primary index, the S&P/NZX 50, climbed by 0.3% to conclude at 12,649 on Thursday, marking its third consecutive session of gains amid growing trade optimism. This positive movement followed an announcement from US President Donald Trump on Wednesday, stating that an agreement had been reached to reinforce a delicate truce in the ongoing US-China trade war. This development has raised hopes for a more enduring resolution between the two leading global economies. Trump also indicated a readiness to extend the July 8 deadline for finalizing discussions with trade partners to prevent the imposition of increased US tariffs. Contributing further to the optimism, a lower-than-anticipated Consumer Price Index (CPI) report for May in the U.S. has strengthened expectations for potential Federal Reserve interest rate cuts later this year. In New Zealand, local news revealed a 0.9% increase in electronic card spending year-on-year for May, contrary to predictions of a 0.3% decline. Among the large-cap stocks, there were significant gains with Auckland International Airport rising by 1.7%, Infratil by 1.2%, Mercury NZ by 1.15%, and Port of Tauranga by 2.1%.