Forecasts for NZD to MYR
Recent forecasts for the NZD to MYR exchange rate suggest a complex dynamic influenced by geopolitical tensions, commodity markets, and regional responses to trade policies. The New Zealand dollar (NZD) has shown resilience, appreciating to near 2.5748 MYR, which is about 2.0% above its three-month average, despite the Reserve Bank of New Zealand's (RBNZ) recent interest rate cut. Analysts note that the NZD has been supported by its correlation with the Australian dollar and a prevailing risk-on sentiment among investors.
Conversely, the Malaysian ringgit (MYR) faces pressure following the announcement of a 24% tariff on imports to the U.S. as part of escalating trade tensions under President Trump's administration. Malaysia's Prime Minister Anwar Ibrahim indicated that the country would avoid retaliation but would strive to coordinate a regional response to the tariffs. This has contributed to a broader slump in emerging Asian currencies, with the MYR likely to be sensitive to developments in the ongoing trade conflict and fluctuations in global oil prices, given Malaysia's status as a significant oil exporter.
The oil market remains volatile, currently priced at $64.76 per barrel, significantly below its three-month average of $73.75, which could further impact the MYR if oil prices continue to decline. As both currencies navigate these challenging macroeconomic environments, analysts expect fluctuations in the NZD/MYR exchange rate to remain tied closely to broader market risk dynamics and commodity price movements. The overall outlook for both currencies may hinge on geopolitical developments and commodity demand, suggesting that both NZD and MYR investors should stay vigilant in monitoring these factors in the coming weeks.
