NZD/USD weakens below 0.6250, eyes on US NFP data

• NZD/USD softens around 0.6220 in Friday’s Asian session. 
• The pessimistic New Zealand growth outlook and cautious mood weigh on the Kiwi. 
• Traders will keep an eye on the US employment data for August on Friday. 

The NZD/USD pair trades with mild losses near 0.6220 during the Asian session on Friday. The cautious mood ahead of the key US employment data might provide some support to the US Dollar (USD). The US August Nonfarm Payrolls (NFP) will take center stage on Friday. 

NZIER forecasts New Zealand’s Gross Domestic Product (GDP) growth to remain weak over the coming year, contributing to a further reduction in inflation. The Reserve Bank of New Zealand (RBNZ) is expected to cut another interest rate in October amid the expectation that inflation will fall within the target band by year’s end. This, in turn, might undermine the Kiwi.