The New Zealand dollar plummeted before a dairy auction in the country, as well as the US manufacturing and employment figures.

The United States is slated to release its PMI and ISM manufacturing surveys for March, and also the ADP private payrolls report.

The GDT dairy auction results in New Zealand will be released Thursday morning.

Against the euro and the US dollar, the kiwi dropped to 69.37 euro cents from Friday’s 69.67 euro cents, and 75.39 US cents from 75.58 US cents.

It also tumbled to 50.73 British pence from 51.03 pence, and ¥89.86 from ¥90.43. But the currency climbed to 97.53 Australian cents from 97.13 Australian cents.

Federal Reserve speakers are preparing the market for a rate hike “but at the same time ensuring markets don’t get too far ahead,” according to economists at ASB Bank.

The material has been provided by InstaForex Company –