Investing.com - The New Zealand dollar edged lower against its U.S. counterpart on Thursday, as investors remained cautious ahead of the release of U.S. data later in the day, while lowered expectations for fresh action by the Federal Reserve sent the greenback broadly higher.
NZD/USD hit 0.8057 during late Asian trade, the daily low; the pair subsequently consolidated at 0.8063, slipping 0.12%.
The pair was likely to find support at 0.8012, the low of July 3 and resistance at 0.8128, the high of August 13.
The greenback remained supported as a string of globally positive U.S. data over the week lowered expectations for fresh easing measures by the U.S. central bank.
Official data on Wednesday showed that industrial production in the U.S. rose by 0.6% in, beating expectations for a 0.5% increase and following a 0.1% rise the previous month.
Earlier in the week, a report showed that U.S. retail sales snapped four successive months of declines in July, jumping 0.8%, surpassing expectations for a 0.3% increase.
Investors were eyeing additional U.S. economic reports to be released later in the day, for further indications on the strength of the country’s economic recovery.
The kiwi was fractionally higher against the Australian dollar with AUD/NZD dipping 0.09%, to hit 1.2999.
Also Thursday, the Melbourne Institute said that inflation expectations in Australia for the month of August ticked down to 2.4%, from 3.3% the previous month.
Later in the day, the U.S. was to publish official data on building permits, as well as weekly government data on unemployment claims. The country was also to release official data on housing starts and a report on manufacturing activity in the Philadelphia area.
NZD/USD hit 0.8057 during late Asian trade, the daily low; the pair subsequently consolidated at 0.8063, slipping 0.12%.
The pair was likely to find support at 0.8012, the low of July 3 and resistance at 0.8128, the high of August 13.
The greenback remained supported as a string of globally positive U.S. data over the week lowered expectations for fresh easing measures by the U.S. central bank.
Official data on Wednesday showed that industrial production in the U.S. rose by 0.6% in, beating expectations for a 0.5% increase and following a 0.1% rise the previous month.
Earlier in the week, a report showed that U.S. retail sales snapped four successive months of declines in July, jumping 0.8%, surpassing expectations for a 0.3% increase.
Investors were eyeing additional U.S. economic reports to be released later in the day, for further indications on the strength of the country’s economic recovery.
The kiwi was fractionally higher against the Australian dollar with AUD/NZD dipping 0.09%, to hit 1.2999.
Also Thursday, the Melbourne Institute said that inflation expectations in Australia for the month of August ticked down to 2.4%, from 3.3% the previous month.
Later in the day, the U.S. was to publish official data on building permits, as well as weekly government data on unemployment claims. The country was also to release official data on housing starts and a report on manufacturing activity in the Philadelphia area.