The NZD/USD pair trades on a softer note near 0.6012 on Friday amid the firmer US Dollar (USD).
NZD/USD drifts lower to 0.6012 on the stronger USD on Friday. US Initial Jobless Claims last week jumped to 221K compared to 212K prior, the highest since January. The RBNZ is expected to keep interest rates on hold at its policy meeting next week. The NZD/USD pair trades on a softer note near 0.6012 on Friday amid the firmer US Dollar .
If the US NFP data portrays a stronger-than-expected result, this might temper June Fed rate-cutting expectations, offering some support to the Greenback and dragging the NZD/USD pair lower. According to the CME FedWatch Tool, financial markets are now pricing in nearly 65% odds that the Fed will lower its interest rate in June, up from 60% in the previous week. On Thursday, the New Zealand Building Permits improved to 14.9% MoM in February from an 8.
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