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Japan’s Economy Minister Ryosei Akazawa said early Thursday that the officials agreed to hold a second meeting with the United States this month. 

The NZD/USD pair extends the rally to near 0.5935 during the early Asian trading hours on Thursday. The New Zealand Dollar (NZD) edges slightly higher against the US Dollar (USD) after the hotter inflation data.

New Zealand’s Consumer Price Index (CPI) rose 2.5% YoY in the first quarter (Q1) of 2025, compared with the 2.2% increase seen in the fourth quarter of 2024, according to the latest data published by Statistics New Zealand on Thursday.

New Zealand Consumer Price Index (YoY) above expectations (2.3%) in 1Q: Actual (2.5%)

Gold price extended its record streak for the third time in the week as the Greenback weakened due to tensions between China and the US related to trade policies. These tensions are increasing the appeal of safety assets like precious metals.

Japan economy minister Akazawa

• Told U.S. negotiation counterparts Japan wants best solution as soon as possible for both nations

• Strongly requested revocation of tariffs on Japan

• Agreed to hold second meeting this month
• Says there was no discussion of forex

This article was written by Eamonn Sheridan at www.forexlive.com.

Trade balance data from Japan for March 2025

544.1bn JPY

• expected +485.3bn yen, prior +590.5bn

Exports +3.9%

• expected +4.5%, prior +11.4%

Exports to:

• US +3.1% y/y
• EY -1.1% y/y
• China -4.8% y/y
• Asia +5.5% y/y

Imports +2.0%

• expected +3.1%, prior -0.7%

This article was written by Eamonn Sheridan at www.forexlive.com.

Federal Reserve Bank of Kansas City President Jeffrey Schmid.

• There’s a lot of nervousness in the agricultural sector from tariffs
• I’m an optimist, need to be patient to see how it plays out
• We will react to disruptions that might affect mandates
• Politicians and the public seem to be pleased with Fed independence and its structure

more to come

This article was written by Eamonn Sheridan at www.forexlive.com.