US non-farm payrolls showed jobs increased by 228,000 in November, continuing a robust run.
Annual wage growth rose 2.5 per cent, a slower pace than anticipated. US Federal Reserve policymakers are expected to raise the key interest rate this week.
But like other central banks around the world, they are struggling with the low inflationary environment.
"NZD expected to start the week tentatively, but unlikely to break through downside support of US68.20c," ANZ Bank New Zealand rural economist Con Williams said in a note. Meanwhile, the pound got a short-lived boost on signs of a breakthrough in the UK's negotiations to leave the European Union.
At a speech in Auckland on Monday, Finance Minister Grant Robertson reiterated the broad thrust of the government's economic thinking ahead of this week's half-year economic and fiscal update and made clear there would not be the usual slew of pre-emptive policy announcements before next May's Budget.
"The plan is already out there," he told an Auckland business audience ahead of Thursday's release of both the HYEFU and the annual Budget Policy Statement.
"The first steps towards Budget 2018 will come this Thursday."
Local data on Monday includes November consumer spending on credit and debit cards.
The kiwi slipped to 58.06 euro cents from 58.21 euro cents on Friday in New York and declined to 77.55 yen from 77.74 yen.
It fell to A90.97c from A91.18c last week and decreased to 4.5240 Chinese yuan from 4.5353 yuan.
The trade-weighted index was little changed at 72.49 from 72.54 last week.
