The NZD/USD pair clings to gains after a significant recovery from 11-month low around 0.5770. The Kiwi asset oscillates above 0.5800 as the focus shi
NZD/USD turns sideways after a sharp recovery to near 0.5820 ahead of Fed policy. The Fed is expected to keep interest rates unchanged but will keep doors open for further policy-tightening. NZ Q3 labor market data would trigger action in the New Zealand Dollar. fts to the interest rate decision by the Federal Reserve , which will be announced on Wednesday.
Investors will keenly observe the factory data as a recent survey from S&P Global showed that Manufacturing PMI met the 50.0 threshold for the first time after contracting for straight 11 months. A figure below the 50.0 threshold is considered as contraction. On the New Zealand front, investors await the Q3 Employment data, which will be released on Tuesday. As per the consensus, hiring rose by 0.4% against 1.0% reading from the previous quarter.
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