NZD Gains Against USD on Weak US Jobs Data

The New Zealand Dollar (NZD) is trading higher against the US Dollar (USD), gaining 0.16% to around 0.5860 during Thursday's European session.

This uptick comes as the US Dollar underperforms, with weak United States ADP Employment Change data staging an unfavorable backdrop for the Nonfarm Payrolls (NFP) data scheduled for Friday.

TD Securities expects a modest NFP rebound to 95k in August after July's decline of 23k, while also anticipating little movement in the unemployment rate at 4.1% with balanced risks.