• NZD/USD loses ground near 0.6340 in Tuesday’s early Asian session. 
• Fed’s Powell said the central bank is not in a hurry to cut rates quickly, will be guided by data.
• The Chinese fresh stimulus measure might cap the downside for the Kiwi. 

The NZD/USD pair trades on a softer note around 0.6340, snapping the three-day winning streak during the early Asian session on Tuesday. The modest rebound in the US Dollar (USD) after US Federal Reserve (Fed) Chair Jerome Powell’s speech weighs on the pair. Investors will keep an eye on the US September ISM Manufacturing Purchasing Managers Index (PMI), which is due on Tuesday. 

Fed’s Powell on Monday signaled that additional rate cuts are in the pipeline, though their size and pace would depend on the evolution of the economy. Powell further stated that the Fed's current goal is to support a largely healthy economy and job market, rather than rescue a struggling economy or prevent a recession.

Interest rate futures contracts have priced in a nearly 35.4% chance of a half-point cut in November, versus a 64.6% possibility of a quarter-point cut, according to the CME FedWatch Tool. The US September labor market data will be closely watched on Friday. The US economy is expected to see 140K job additions in September, while the Unemployment Rate is projected to remain unchanged at 4.2%.