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Forex - NZD/USD edges higher on N.Z. business confidence data

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Investing.com - The New Zealand dollar edged higher against its U.S. counterpart on Thursday, supported by upbeat business confidence data from New Zealand.

NZD/USD hit 0.8178 during late Asian trade, the session high; the pair subsequently consolidated at 0.8158, adding 0.12%.

The pair was likely to find support at 0.8038, the low of September 11 and resistance at 0.8239, the high of November 25.

The kiwi found support after data showed that the ANZ business confidence index for New Zealand rose to a nearly 15-year high of 60.5 this month, from 53.2 in October.

Trade volumes were thin with markets in the U.S. to remain closed for the Thanksgiving Day holiday on Thursday.

The New Zealand dollar was lower against its Australian counterpart, with AUD/NZD rising 0.36% to hit 1.1184.

Also Thursday, official data showed that private capital expenditure in Australia rose 3.6% in the third quarter, confounding expectations for a 1.2% decline, after a downwardly revised 1.6% increase in the three months to June.

A separate report showed that new home sales in Australia dropped 3.8% in October, after a 6.4% increase the previous month.

Later in the day, New Zealand was to release official data on building consents.

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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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