The NZD/USD pair has been trading lacklusterly within a narrow range, but Friday's sharp decline has shifted the technical outlook to bearish, at least for the short-term, shedding more than 0.80% at the end of the week.
The Dow Jones Industrial Average (DJIA) shed 400 points on Friday after US Nonfarm Payrolls (NFP) came in below expectations, alongside a downard revision to previous figures.
The AUD/USD declined by 0.85% in Friday's session, now hovering near the 0.6700 level following the release of the US Nonfarm Payrolls (NFP) report for August.
The US Dollar Index (DXY), a measure of the US Dollar against a basket of six currencies, recovered its footing on Friday after the release of August Nonfarm Payrolls (NFP) data came in mixed.
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Friday that Fed officials are finally beginning to catch up with the broader market's view that the time has come for movement from the US central bank on policy rates, but downplayed discussion of a larger opening cut in September.