NZD Holds Steady as Weak US Durable Goods Data Fuels Fed Rate Cut Bets

The New Zealand Dollar held steady against the US Dollar on February 25, after data showed that durable goods orders fell by 1.1% in January, a sharper decline than forecast.

This marks the second consecutive monthly decline, raising concerns about the health of the US manufacturing sector and reducing expectations for Federal Reserve policy tightening.

The NZD/USD pair traded near 0.5900, showing resilience despite a broadly softer US Dollar. The CME FedWatch Tool now shows a 65% probability of a rate cut at the Fed's May meeting, up from 55% a week ago.