Investing.com - The New Zealand dollar was higher against its U.S. counterpart on Tuesday, as market sentiment firmed up amid hopes that Greece is close to receiving formal approval on its second bailout and after upbeat domestic data.
NZD/USD hit 0.8236 during late Asian trade, the pair’s highest since Friday, the pair subsequently consolidated at 0.8213, gaining 0.42%.
The pair was likely to find support at 0.8135, Monday’s low and resistance at 0.8279, the high of March 8.
Risk appetite received a boost on Monday after the head of the Eurogroup of finance ministers indicated that a EUR130 billion bailout for Greece would be formally approved early this week, after the country completed a debt restructuring deal with its private creditors last week.
Sentiment on the New Zealand dollar was also boosted after official data showed that the country's food price index rose 0.6% in February from the previous month and was up 1.5% year-on-year.
A separate report showed that house prices rose 0.8% in February, while sales volumes were up 37% year-over-year.
The kiwi was higher against its Australian cousin, with AUD/NZD slipping 0.22% to hit 1.2824 and was also up against the yen, with NZD/JPY rising 0.58% to hit 67.64.
Later in the day, the U.S. was to release government data on retail sales and business inventories. Also Tuesday, the Federal Reserve was to announce its benchmark interest rate; the announcement was to be accompanied by the central bank’s rate statement.
NZD/USD hit 0.8236 during late Asian trade, the pair’s highest since Friday, the pair subsequently consolidated at 0.8213, gaining 0.42%.
The pair was likely to find support at 0.8135, Monday’s low and resistance at 0.8279, the high of March 8.
Risk appetite received a boost on Monday after the head of the Eurogroup of finance ministers indicated that a EUR130 billion bailout for Greece would be formally approved early this week, after the country completed a debt restructuring deal with its private creditors last week.
Sentiment on the New Zealand dollar was also boosted after official data showed that the country's food price index rose 0.6% in February from the previous month and was up 1.5% year-on-year.
A separate report showed that house prices rose 0.8% in February, while sales volumes were up 37% year-over-year.
The kiwi was higher against its Australian cousin, with AUD/NZD slipping 0.22% to hit 1.2824 and was also up against the yen, with NZD/JPY rising 0.58% to hit 67.64.
Later in the day, the U.S. was to release government data on retail sales and business inventories. Also Tuesday, the Federal Reserve was to announce its benchmark interest rate; the announcement was to be accompanied by the central bank’s rate statement.