Ella 
NZD/USD showed signs of recovery, initially falling to a nine-month low before rebounding to hit 0.5941. The pair fell after weak U.S. job market data stoked concerns that the U.S. economy could slip into recession, spooking global financial markets.
The New Zealand dollar and other currencies tumbled as risk aversion grew. The market turmoil reflects growing concerns that the Fed may not have time to adjust monetary policy to avoid economic distress.
The Reserve Bank of New Zealand (RBNZ) will meet next week. Current market expectations are for the central bank to cut interest rates by 25 basis points to 5.25% on August 14. The expected measure is part of a broader trend of global monetary easing.
The central bank is likely to cut interest rates further, with rates expected to fall to 4.75% annually by the end of 2024.
