NZ dollar rises on weak US services data; eyes on non-farm payrolls

Fri, 04 Oct 2019

The New Zealand dollar firmed on further signs of weakness in the US economy. The greenback took a tumble when the Institute for Supply Management said its non-manufacturing activity index fell to a reading of 52.6 in September, the lowest since August 2016. Economists surveyed by Dow Jones had expected a reading of 55.3. “The respondents are mostly concerned about tariffs, labour resources and the direction of the economy,” ISM said. The kiwi was trading at 62.99 US cents at 8am in Wellington from 62.62 at 5pm yesterday. The trade-wei...

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