FX.co ★ New Zealand Stocks Muted in Morning Trade

On Monday morning, the NZX 50 hovered near 12,598, showing little movement after declines in the past two sessions. Gains in the technology and consumer discretionary sectors helped offset losses seen in consumer staples and communication services. Investors are on edge as they anticipate the Reserve Bank of New Zealand's interest rate decision on Wednesday. The central bank is anticipated to decrease cash rates by 25 basis points for the second consecutive meeting this year, due to concerns about potential global economic repercussions stemming from the ongoing trade conflict. Additionally, traders are keeping a close eye on tariff developments following President Trump's announcement on Sunday to extend the 50% tariffs on the European Union until July 9. This week, market participants are also preparing for remarks from several Federal Reserve officials and the release of the Personal Consumption Expenditures (PCE) price indices, seeking additional clarity on the direction of interest rates. Among notable movements, Gentrack Group climbed 1.3%, ANZ Group increased by 0.8%, whereas F&C Investment Trust and A2 Milk experienced declines of 1.2% and 0.5%, respectively.