NZD treading water after US jobs data gave no clear steer

(Image: Getty)

Mon, 09 Sep 2024

The New Zealand dollar looks set to tread water after US jobs data failed to provide a clear steer on whether the US Federal Reserve will cut rates by 25 or 50 basis points this month. The kiwi was trading at 61.79 US cents early Monday in Wellington after trading at 62.22 US cents late Friday. “Market participants were looking for the labour market report to settle the debate on the size of the Fed rate cut at the September FOMC. Although payrolls growth was weak, it didn’t provide a definitive answer,” BNZ Bank'...

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