Both the Japanese and Australian central banks left their key rates unchanged yesterday, while Chinese manufacturing data for October printed stronger than expected, as did the US ISM manufacturing measure.
"The market was widely expecting a fall in volumes sold thanks to the weather, which is why the NZD's response to the result was relatively muted," analysts at Bancorp Treasury Services said in a note to clients.
"The RBA mirrored the BOJ in standing pat in terms of action and words a week ahead of a US presidential election whose uncertainty has risen dramatically in the past week with polls showing a Trump resurgence."
Labour market data today is expected to show the jobless rate fell to 5 per cent in the third quarter from 5.1 per cent, while employment growth slowed to 0.8 per cent, according to UBS. Labour costs probably remained subdued.
The Reserve Bank will also be considering its latest quarterly survey of expectations out today, which will show the extent to which low inflation expectations are becoming entrenched ahead of its monetary policy statement on Nov. 10, which is expected to include a cut to the official cash rate.
The kiwi rose to 93.74 Australian cents from 93.55 cents, was little changed at 58.62 British pence from 58.68 pence and fell to 64.91 euro cents from 65.20 cents. It fell to 4.8497 yuan from 4.8540 yuan and declined to 74.65 yen from 74.95 yen.
