NZDUSD Steady as Markets Eye US Jobs & Rate Cuts

The NZD/USD pair hovered near $0.597 on Friday, moving within a narrow range as investors awaited the US jobs report due later in the day. This data will provide insights into the labor market, essential before the Federal Reserve’s upcoming policy decision and next week’s US presidential election.

Kiwi Weakens as RBNZ Signals Softer Stance on Inflation

In New Zealand, the Kiwi remains weak, and there are expectations that the Reserve Bank of New Zealand may take a softer approach, especially since inflation is now within the bank’s target range.

Next read: AUD/USD Struggles – US Gains vs. Surprising Chinese Growth

Markets are already expecting a half-point rate cut in November, with forecasts for the cash rate to fall to 3.82% by December and to approximately 3.09% by the end of next year. Despite this, the Kiwi found some support from a surprising rise in factory activity in China, New Zealand’s largest trade partner.

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Ethan O. Miller

Ethan O. Miller is a seasoned Forex analyst. His insightful articles offer a unique perspective on currency trends, aiding both novice and experienced traders in navigating the Forex market.

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