Forex

NZD Weakens Despite Stronger-Than-Expected GDP Data

Guavy AI Editorial Team Published September 17, 2026

Instruments

USD NZD

The New Zealand Dollar (NZD) remains under selling pressure against the US Dollar (USD), despite better-than-expected GDP data. The NZD/USD pair fell to near 0.5725 during the early Asian session on Thursday.

Statistics New Zealand reported that the country's Gross Domestic Product (GDP) grew by 0.2% quarter-on-quarter in the second quarter of 2026, exceeding expectations of a 0.1% rise.

The Reserve Bank of New Zealand (RBNZ) delivered a 'dovish surprise' at its September meeting, signaling that there is only room for another 25 basis points to 3.0%. Analysts at ING caution that this should not be taken as a commitment and highlight the importance of global risk sentiment and US events in driving the NZD/USD pair.

The Fed rate hike and comments from Chairman Kevin Warsh about fighting inflation could provide some support to the Greenback, potentially acting as a headwind for the pair in the near term.

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