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Forex - NZD/USD almost unchanged in cautious trade

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Investing.com - The New Zealand dollar was almost unchanged against its U.S. counterpart in cautious trade on Tuesday, although strong Chinese data and Friday's upbeat U.S. employment report supported risk appetite.

NZD/USD hit 0.8272 during late Asian trade, the session low; the pair subsequently consolidated at 0.8279, easing 0.04%.

The pair was likely to find support at 0.8184, the low of November 25 and resistance at 0.8342, the high of November 15.

Data earlier showed that Chinese retail sales rose by a stronger than expected 13.7% in November, while industrial production rose 10.0%, just shy of expectations.

China is New Zealand's second biggest export partner.

Meanwhile, market sentiment remained supported after data on Friday showed that the U.S. economy added more jobs than expected in November, pushing the unemployment rate down to a five year low of 7.0%.

The kiwi was higher against the Australian dollar, with AUD/NZD edging down 0.20% to 1.0974.

Also Tuesday, the National Australia Bank said its business confidence index ticked down to 5 in November, from an upwardly revised reading of 6 the previous month.

Separately, official data showed that home loans in Australia rose 1% in October, in line with expectations, after a downwardly revised 3.5% increase in September.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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