The New Zealand Kiwi declined against the dollar after the rise in the US Purchasing Manager Index (PMI) figures reignited concerns that persistent inflation in the services sector could keep price growth elevated for much longer than investors hoping for rate cuts had initially anticipated. .
The Canadian Dollar (CAD) is broadly higher for Friday, gaining ground against nearly every major currency peer across the FX market, but the US Dollar (USD) has taken the top spot for the day after US Nonfarm Payrolls (NFP) surged to their highest figure in a year.
The Canadian Dollar (CAD) eased on Monday, backsliding after Crude Oil markets snipped away the week’s opening highs as the trading week kicks off with a light economic calendar on offer.