NZD/USD gains ground to near 0.6000 in Wednesday’s early Asian session.
US JOLTS Job Openings rose to 7.39 million in April, above the consensus.
US President Trump and Chinese President Xi Jinping were likely to have a call soon.
The NZD/USD pair holds positive ground around 0.6000 during the early Asian session on Wednesday. The US Dollar (USD) weakens against the New Zealand Dollar (NZD) amid concerns over the impact of US President Donald Trump’s tariffs on the US economy and global trade.
The Greenback edges lower as traders remain concerned over the ongoing tariff uncertainty and its potential to hurt growth in the US economy. The US manufacturing sector has continued a trend of contraction for three consecutive months, which contributes to the USD’s downside.
Separately, the number of job openings on the last business day of April stood at 7.39 million versus 7.2 million prior, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday. This figure came in above the market expectation of 7.1 million.
US Treasury Secretary Scott Bessent said on Sunday that Trump and Xi Jinping were expected to meet soon to resolve trade disputes, although on Monday there was a response from China's Commerce Ministry to US accusations that Beijing violated their trade agreement.
The US Nonfarm Payrolls (NFP) report for May will be closely monitored, which is expected to show 130K job additions. If the report showed a stronger-than-expected outcome, this might lift the USD and cap the upside for the pair.
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