The New Zealand dollar was little changed ahead of US employment data after figures earlier this week showed the world's biggest economy barely grew in the first three months of the year.
The kiwi traded at 86.27 US cents at 5pm in Wellington from 86.36 cents at 8am, and 86.13 cents yesterday. The trade-weighted index increased to 80.20 from 80.01 yesterday.
Investors are expecting strong jobs growth when US non-farm payrolls for April are released overnight, with a Bloomberg survey predicting a monthly lift of 218,000, a strong lift at odds with an unexpected lift in unemployment benefit claims last month.
"There's nothing that anyone cares about to take us out of recent ranges ahead of non-farms," said Nick Tvedt, senior corporate FX dealer at HiFX in Auckland, referring to tonight's US jobs report.
He expects the kiwi will trade between 86 US cents and 86.40 cents, with upward bias, since weak US economic growth figures released on Wednesday in the US continue to confound predictions.
"Sitting in the wake of Wednesday, you'd need to see something pretty surprising to reverse all of that," Tvedt said.
The local currency is heading for a 0.6 percent gain against the greenback, and is largely flat on a trade-weighted basis, over the week.
New Zealand commodity prices fell 4 percent last month, led by declines in the price of dairy products, according to an ANZ survey.
The kiwi rose to 88.32 yen at 5pm in Wellington from 88.06 yen yesterday, and climbed to 92.99 Australian cents from 92.67 cents. It increased to 62.25 euro cents from 62.07 cents yesterday, and edged up to 51.10 British pence from 51.02 pence.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Dunne warns government of 'consequences' of RMA reform
- Orion Health first-half loss widens in line with expectations, revenue climbs 26%,
- Wellington Airport sees $2 billion net benefit in longer runway
- Snowball runs first wholesale offer for SOS Hydrate
- If Goff could choose Mt Roskill successor, it'd be Wood
Most listened to
- James Mayo talks about SOS Hydration's growth plans after Snowball offer
- Michael Wood on whether he would run in Mt Roskill
- SAFE's Abi Izzard quizzed over protest of a caged hen operation at Pukekohe
- Nevil Gibson talks about Editor's Insight on the planned $US150 million merger between Pfizer and Allergan
- Taupo Beef’s Mike Barton on how to extract sustainable profit from farming
- Will the government lose on RMA reform? Rob Hosking outlines the PM's speech
- How could bookmakers recoup $16 million? Racing Board chief executive John Allen explains
- Nevil Gibson breaks down the latest aviation news
- BusinessNZ manager of energy, environment and infrastructure John Carnegie talks about the climate change survey
- Wayne Evans explains SBS bank's plan to make money for its 3.99% home loan rate
- Nevil Gibson discusses his latest Editor's Insight on demographics
- First NZ Capital economist Chris Green gives his verdict on house prices