FX.co ★ New Zealand Shares Point to 2nd Straight Weekly Gains

The NZX 50 advanced by 33 points, equivalent to a 0.3% increase, reaching 13,493 during Friday's morning trading session. This follows gains from the previous day and marks its highest position in three weeks. The climb was largely driven by sectors such as industrials, consumer discretionary, and real estate. Recent developments, including Thursday's trade agreements between the United States and China, alongside the Federal Reserve's decision to cut interest rates, have positively influenced market sentiment. Traders are now turning their attention to China's upcoming Purchasing Managers' Index (PMI) data and trade balance statistics, looking for insights into China's economic outlook. Additionally, market watchers are eagerly awaiting the Reserve Bank of New Zealand's Financial Stability Report and the country's forthcoming employment figures, which could provide further indications of the central bank's monetary policy direction. Meanwhile, consumer confidence in New Zealand saw a minor decline in October. Early market leaders included Fonterra, rising by 1.1%, Port of Tauranga, up by 0.9%, and Ebos Group, which gained 0.8%. Over the week, the index is poised for a 0.7% increase, signaling a second consecutive weekly gain.